Baltimore, MD—In a significant move to expand its residential development capabilities, Greenberg Gibbons has partnered with MCB Real Estate in a 50-50 joint venture to construct a $100 million, 302-unit Class A apartment community. This development, part of the Waldorf Station mixed-use project, marks a strategic growth initiative for both companies.
Construction on the Waldorf Station apartments commenced this November and is slated for completion in fall 2025. Situated at the Charles County, Maryland entrance, this venture represents a fusion of Greenberg Gibbons’ mixed-use development expertise with MCB Real Estate’s multifamily development acumen.
Eric Walter, President of Greenberg Gibbons, highlighted the significance of this project in their growth trajectory. “Expanding our residential development capabilities to complement our mixed-use expertise has been a part of our growth plan. Creating this apartment community is a prime example of executing that strategy,” Walter stated. His enthusiasm for the partnership with MCB Real Estate is evident as they embark on this multifamily project.
The Class A apartment community at Waldorf Station is set to feature high-end amenities. Residents will have access to a resort-style pool, an expansive clubhouse, co-working spaces, a social engagement lounge, fitness facilities, vehicle charging stations, and a dog park with a pet spa. Emphasizing sustainability, the apartments will incorporate solar panels, water-efficient features, Energy Star appliances, and Wi-Fi-enabled thermostats. In a move towards inclusive housing, 10% of the units are designated as affordable housing.
Daniel Rigaux, Vice President and Head of Multifamily and Hospitality Development for MCB, expressed enthusiasm for the project’s alignment with the company’s values. “This project enhances our commitment to sustainable, mixed-use, mixed-income, multifamily developments. We’re excited to collaborate again with our trusted partners at Greenberg Gibbons,” Rigaux noted. The project’s location in a rapidly growing market positions it as a vibrant community that seamlessly integrates market-rate and affordable housing, contributing to Charles County’s smart growth strategies.
Greenberg Gibbons, as the master developer of Waldorf Station, envisions this 150-acre mixed-use development as a key destination. Located at the juncture of US Routes 301 and 5, the Waldorf Station development is not limited to the 302 apartments currently under construction. Plans for an additional 496 residential units are in the pipeline. The project also aims to feature 450,000 square feet of retail and commercial space, including offices and a hotel, further enhancing the area’s economic and community development.
This joint venture between Greenberg Gibbons and MCB Real Estate at Waldorf Station represents a significant step in creating a modern, sustainable, and inclusive living space in Charles County, aligning with the evolving demands of contemporary urban development.