Baltimore-based developer Greenberg Gibbons Monday announced it has formed a 50-50 joint venture partnership with MCB Real Estate to build a $100 million, 302-unit Class A apartment community within its Waldorf Station mixed-use development at the gateway to Charles County.
Construction began this month and is expected to be completed in fall 2025.
The Class A apartment community at Waldorf Station will offer top-of-the-line amenities including a resort-style pool, expansive clubhouse, co-working and social engagement lounge, fitness facilities, vehicle charging stations, and a dog park and pet spa. The apartments will offer many sustainable features, including solar panels, water-efficient features, Energy Star appliances, and Wi-Fi enabled thermostats. To continue fostering inclusive communities, 10% of the apartments have been reserved as affordable housing units.
Greenberg Gibbons is the master developer of Waldorf Station, a 150-acre mixed-use development located at the intersection of US Routes 301 and 5. Beyond the 302 apartments currently under construction, the developer is planning for an additional 496 residential units in the future. The mixed-use destination will also feature 450,000 square feet of retail and commercial space, including offices and a hotel.
Greenberg Gibbons’ portfolio includes more than 6.5 million square feet and $1.5 billion in assets and has 51 projects across seven states.
Founded in 2007, MCB Real Estate is a community-centric, privately held institutional investment management firm headquartered in Baltimore. MCB has a nationwide portfolio of operating assets totaling approximately 14.5 million square feet of industrial, commercial office, retail, mixed-use, multifamily, and life sciences properties with nearly 4 million square feet in its development pipeline.