Greenberg Gibbons Forms Joint Venture with MCB Real Estate to Develop $100 Million Multifamily Community at its Waldorf Station Mixed-Use Destination

Baltimore, MD. (November 20, 2023) – Greenberg Gibbons announced today that 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, Maryland. Construction began this November and is expected to be completed in the fall of 2025.

 

“Part of our growth plan has been to expand our residential development capabilities to complement our mixed-use expertise, and creating this apartment community is a prime example of executing that strategy,” said Eric Walter, President of Greenberg Gibbons. “We are excited to partner with MCB on this multifamily project.”

 

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.

 

“This project enhances our commitment to sustainable, mixed-use, mixed-income, multifamily developments, and we’re excited to collaborate once again with our trusted partners at Greenberg Gibbons,” said Daniel Rigaux, Vice President and Head of Multifamily and Hospitality Development for MCB. Located in the heart of a rapidly growing market, we are eager to create a vibrant community that harmoniously blends market-rate and affordable housing options, contributing to smart growth strategies in Charles County.”

 

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.

 

About Greenberg Gibbons

Celebrating 55 years of success, Greenberg Gibbons is one of the East Coast’s premier developers, investors, owners, and operators of mixed-use, retail, commercial, and residential properties. The firm’s rapidly expanding portfolio includes more than 6.5 million square feet and $1.5 billion in assets. Its innovative ground-up development and revitalization projects create engaging destinations and inspiring experiences, while making a positive ripple effect in the communities they serve. Headquartered in Baltimore, Greenberg Gibbons has 51 projects across seven states. For more information, visit www.ggcommercial.com.

 

About MCB Real Estate

Founded in 2007, MCB Real Estate is a community-centric, privately-held institutional investment management firm headquartered in Baltimore, Maryland.  MCB boasts a diverse 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 four million square feet in its development pipeline. The firm offers a seamlessly integrated vertical suite of professional services, covering development, construction, property management, asset management, acquisitions, and legal expertise, ensuring comprehensive support throughout every stage of an asset’s lifecycle. Backed by a passionate and experienced team, MCB transforms spaces into purpose-built places. Visit www.mcbrealstate.com.