The new White Flint is a much needed economic engine for Montgomery County. In a time of severe economic uncertainty, redevelopment will add thousands of new jobs, billions in new county tax revenue, improved mobility and traffic flow and, most significantly, contribute to a new sense of community for the residents of White Flint.
A Place to be Productive
As a result of the improved retail opportunities, new jobs, residents and homes, our analysis found the potential for $1.4 billions in new gross tax revenue to Montgomery County over the next 20 years. With the land owners contributing almost 7580 percent of the cost of the infrastructure improvements, there will be an impressive sum of new revenues that can be invested in schools, public safety, parks and numerous other projects countywide.
The vast commercial property surrounding the White Flint Metro station has been underutilized for decades. Already Maryland’s premier retail sales market, White Flint will be redeveloped to effectively compete against the shopping districts of Northern Virginia, and the District of Columbia – helping to keep those shopping dollars here at home instead of seeing the estimated two billion dollars of retail sales lost to Virginia and the District.
Success required a plan that had economic incentives to warrant new development throughout the sector plan area, so that local owners could commit to providing the additional tax revenue to finance $601 million in targeted infrastructure. It is this investment in our future that will increase and enhance mobility throughout the area, and enable us to transform Rockville Pike into a world class 21st Century Boulevard that inspires community pride.
This is not the first time Montgomery County has attempted to solve the problems on Rockville Pike. The county last addressed the White Flint Sector Plan in 1992. Unfortunately, it was a missed opportunity where densities were not aggressive enough along Rockville Pike to spur the type of development that the community envisions for White Flint.
Let’s not make that mistake again. Thank you for joining us in helping to make White Flint a welcoming hometown with a new sense of community.
An Economic Analysis has been prepared to address transportation infrastructure financing challenges and opportunities for the White Flint Sector Plan area. It describes transportation infrastructure necessary to transform White Flint to a more urban, walkable, and transit-accessible community.
Click here to download the Analysis. <insert link>