5497 Waterloo Rd
Ellicott City, MD 21043
Approved Age-Restricted Howard County Site · Land For Sale · 2.04 AC

CBRE Seniors Land is pleased to present this exceptional opportunity to acquire Waterloo Road Active Adult, a development site with approvals pending located in Ellicott City, Maryland. A ±95-unit age-restricted adult project has been submitted by ownership and is pending approvals on the ±2.04-acre subject site. Lower density townhome and 'two-over-two' products are also possible within the approved site development plan (SDP). The planned development is in a prime location in affluent Ellicott City approximately 15 minutes by car from the Baltimore Metro Area and about 30 minutes from Washington D.C. Ellicott City is an unincorporated, census-designated suburb and is the county seat of Howard County--which is the wealthiest county in the state of Maryland. Ellicott’s downtown Historic District features casual, fun bistros, bakeries, restaurants, brewpubs and distilleries along with museums and other cultural-historic landmarks. About five minutes west of the subject, national retailers like Whole Foods, Nordstroms, Seasons 52, AMC Theaters and dozens of others can be found at The Mall in Columbia. The average age of housing units in Ellicott City is nearly 40 years old with a void of impactful new supply. The Seller of the site is an experienced regional entity that has submitted the ±95-unit project consisting of approximately 51 one-bedrooms and 44 two-bedrooms with ±53 surface parking spaces and ±70 garage podium stalls. The project is offered with all anticipated entitlements and is expected to be shovel-ready in mid-2024. The final unit mix is somewhat flexible and design within the approved building envelope can be catered to suit an operator’s program. Waterloo Road Active Adult presents an opportunity for a potential Buyer to develop a Class-A, market-leading Active Adult/Age-Restricted community in upscale Howard County which boasts exceptionally strong demographic indicators in a high barrier-to-entry market. Alternatively, lower-density age-restricted townhome options have been explored, which would not require an update to the approved Site Development Plan (SDP). These additional layouts are accessible in the Virtual Deal Room. Please visit the Property Website to access the Confidentiality Agreement and Virtual Deal Room. CALL FOR OFFERS: THURSDAY FEBRUARY 29, 2024. Call Listing Team for info.