Ft. Ritchie LRA Considers Reuse Options after Taking Site Back from Developer
- January 9, 2013
Less than six months after taking back the former Fort Ritchie from its developer, PenMar Development Corp. wants to have a new reuse plan for the 591-acre central Maryland property located just over the Pennsylvania border.
The LRA plans to hire a real estate consultant shortly and complete a redevelopment plan later this year, Dori Nipps, the LRA’s executive director told the Washington County Board of Commissioners Tuesday.
“We would really like to have a plan to work from in April or May,” Nipps said, reported the Herald-Mail.
PenMar’s board now is working through potential reuses for the site. The LRA still intends to transfer it back into private hands, even after Corporate Office Properties Trust returned the property six years after purchasing it for $9 million.