BridgeWater Real Estate Brokerage is proud to exclusively present for sale this 2.04-acre development site at 5497 Waterloo Road in Ellicott City, Maryland.
The site is located in the heart of Howard County, the wealthiest county in the state and the 7th wealthiest county in the country using the most recent (2022) Census data.
The seller has an approved ECP and has submitted their (SDP) Site Development Plan, so is expecting full entitlements for 95 units of age restricted adult housing in Q2 2025.
Per the county Government, there is a significant demand for more age-restricted housing. The county is experiencing high housing demand that outpaces the available supply, disproportionately affecting lower-income households. Currently, only 9% of housing in Howard County is affordable to households earning less than 60% of the area median income, approximately $70,000 per year for a family of four. Further, Costar indicates no new age restricted multifamily in the County’s pipeline.
The site is ideal for market rate or affordable active adult rental communities, a market rate assisted living facility and a for-sale senior living condominium community.
OFFERS DUE Monday, December 9, 2024.
