Montgomery County authorizes $420M in bonds for Viva White Oak megadevelopment

July 28, 2026 - 19:33

The Montgomery County Council has authorized the issuance of $420 million in tax increment financing bonds to support the Viva White Oak project, a massive mixed-use development in Silver Spring led by MCB Real Estate. The total cost of the project is estimated at $2.8 billion.

The bonds will fund public infrastructure improvements tied to the development, including roads, stormwater management, and utility upgrades. Under the tax increment financing arrangement, the county will borrow money upfront and repay the debt using future property tax revenue generated by the new construction. Officials say the development is expected to create thousands of construction and permanent jobs, as well as add new housing, retail, office space, and a hotel to the area.

Supporters argue the project will revitalize a long-underused stretch of the county and bring much-needed economic activity to the eastern part of Silver Spring. Critics, however, have raised concerns about the scale of public subsidies and the potential for traffic congestion and strain on local schools. The council vote followed months of debate and community hearings.

Construction is expected to proceed in phases, with the first buildings breaking ground as early as next year. The full buildout could take a decade or more.