The owner, Millennium Development Group of Frederick, led by developer Thomas Poss, is doing site work, grading, landscaping and stormwater management. It plans to start construction this October with two of five planned 80,000-sf buildings and a 100,000-sf speculative data center, he says. It expects to invest $40 million in engineering, roads, sewer and fiber-optic cable over the life of the project, which could create 3.2 million sf of new commercial space.
MIE Properties has started work on two of six planned buildings on land it bought in Riverside that is site-plan-approved for about 500,000 sf of construction. It plans to proceed on a speculative basis.
"The risk is we've positioned zoning towards attracting tech companies. A substantial amount of investment will be to build a fiber loop," Poss says.
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