August 28, 2026

County’s First Use of Tax Increment Financing Will Support Infrastructure for Largest Private Investment in History of Eastern Montgomery County; First Phase Will Bring Housing, Retail, Grocery, and Costco

Montgomery County Executive Marc Elrich was joined by Council President Natali Fani- González, and other councilmembers today for the ceremonial signing of legislation authorizing up to $420 million in bonds for the estimated $2.7 billion VIVA White Oak development, clearing a major financial hurdle for the long-awaited transformation of 280 acres in Eastern Montgomery County.

To watch the ceremony, click here.

The Montgomery County Council unanimously approved Expedited Bill 31-26, Bond Authorization – VIVA White Oak Development District, on July 28. The legislation authorizes the County’s first use of Tax Increment Financing (TIF) to fund public infrastructure necessary to advance the project.

Once completed, Viva White Oak is expected to have over 4,400 residences, more than 3 million square feet of laboratory, office, medical-office space, and retail, as well as public amenities.

“This is a project that has been discussed and planned for a long time, and now we are getting to the point where people will actually begin seeing it take shape,” said County Executive Elrich. “VIVA White Oak will bring thousands of homes, good jobs, restaurants, stores, and other amenities to an area of the County that has needed this level of investment for decades. We found a financing approach that allows us to build the infrastructure needed to make this development possible while using the new tax revenue generated by the project to repay the bonds. I appreciate the Council, our State partners, MCB, and especially the East County residents who kept pushing to get us to this point.”

In May 2025, MCB Real Estate was identified by Montgomery County as a partner in the project.

“I want to thank County Executive Elrich and the entire Montgomery County Council for their vision to see what VIVA White Oak can be,” said P. David Bramble, Co-Founder and Managing Partner of MCB Real Estate. “This project will be a game changer for East County and these communities that have been overlooked for far too long. We are excited to get to work to bring real and deep investment to this area, bring in high-quality retail, new jobs, and quality residential to this part of Maryland.”

At full buildout, the project is expected to generate approximately 9,000 permanent jobs, 19,000 construction jobs, and an estimated $21 million in annual county revenue starting in 2033 and growing in the out-years.

“This project brings promise and long-awaited opportunity to the White Oak community,” said Council President Fani-González. “The major investment contributes toward our housing production goals and creates a vibrant town center for our beautiful community to enjoy.”

The project represents a major milestone for East County that many feel is long overdue.

“East County residents have demanded equitable public and private investment on our side of the County for years, and Viva White Oak represents a huge step forward to meet those demands,” said Councilmember Kristin Mink. “The innovative financing plan signed today will allow our development partners to bring the high-quality employment, housing, and retail amenities that were envisioned in the master plan for this area over a decade ago.”

The project represents an estimated $2.7 billion in private investment in East County.

“Viva White Oak demonstrates the County’s continued commitment to supporting growth and investment in Montgomery County,” said Jared Smith, President & CEO of the Montgomery County Economic Development Corporation (MCEDC). “The County’s first TIF gives us another important tool to compete for investment, attract businesses, and create jobs. Montgomery County has tremendous assets and opportunities, and using tools like this strategically will help us translate those strengths into long-term economic growth.”