5497 Waterloo Rd - Approved Age-Restricted Howard County Site
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5497 Waterloo Rd - Approved Age-Restricted Howard County Site
2.04 Acres of Residential Land in Ellicott City, MD 21043
Investment Highlights
- ECP Approved, SDP Submitted to be "Techincally Complete" Q2 2025
- No new supply of this product in the County
- 95 units of age restricted adult housing
- Strong demand evidenced through high rents in comparable product
Executive Summary
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.
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.
Data Room Click Here to Access
- Comps
Property Facts
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 2.04 AC |
| Property Type | Land |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 2.04 AC |
1 Lot Available
Lot
| Lot Size | 2.04 AC |
| Lot Size | 2.04 AC |
This 2.04-acre development site at 5497 Waterloo Road Ellicott City, MD 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.
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PROPERTY TAXES
| Parcel Number | 01-170260 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,138,600 |
PROPERTY TAXES
Parcel Number
01-170260
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,138,600
zoning
| Zoning Code | POR (Planned Office Research. The proposed use is allowed by right and there is very limited sites that are zoned for this use.) |
| POR (Planned Office Research. The proposed use is allowed by right and there is very limited sites that are zoned for this use.) |
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Adam Stein -
BridgeWater Real Estate Brokerage
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5497 Waterloo Rd - Approved Age-Restricted Howard County Site
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