Weller Development today announced plans for growth and expansion in anticipation of completion ofPhase 1B in Port Covington in the Spring of 2023. Weller Development will continue to manage construction of Chapter 1B, the 1.1 million-square-foot phase currently underway, through its completion, while focusing on growth in several key markets both nationally and internationally. As a double bottom line development firm, Weller Development aims to improve the communities in which it works, providing value not only to investors but also to the surrounding communities.
Weller Development, founded by Marc Weller, was the lead developer in Port Covington,working on the project since 2012. Following several years of acquisitions, entitlements, securing financing, master planning, and infrastructure development at Port Covington, Weller Developmentlaunched vertical construction and development in March of 2021 as part of Phase 1B. This phase includes586,000 square feet of residential, 440,000 square feet of office,116,000 square feet of retail, approximately 1,000 space parking garage, and ten acres of parks and public space.
Under Weller’s leadership, Port Covington committed more than $110 million in contracts to Minority Business Enterprise and Women Business Enterprise (MBE/WBE) firms, exceeding its initial goals of participation for MBEs and WBEs.In September of 2016, the Port Covington Development Team entered into a Memorandum of Understanding (MOU)with the City of Baltimore, including over $130 million in commitments for Baltimore. Weller Development has redefined real estate development with its focus on community, inclusion, affordable housing, workforce development, and local hiring.
“We are extremely proud of the work our team has done on this impactful project for the city of Baltimore and state of Maryland,” said Marc Weller, Founding Partner and President at Weller Development. “We have had excellent partners in Port Covington, and we are always looking for additional partners across our various developments. Port Covington is well on its way and is in great hands. As we wrap up phase 1B, it allows Weller Development to continue its growth in our industry, and we are excited for all that lies ahead.”
WellerDevelopment will relocate its headquarters from Baltimore to Bethesda, MD as part of this growth and expansion plan and will continue working to develop community-driven mixed-use projects locally, regionally, and internationally. Weller will also keep a construction office in Port Covington through completion of Phase 1B. Current Weller Development projects include Reston National Golf Course, Crossvines multi-purpose facility in Poolesville, MD, a large-scaleproject in Napa Valley and a transformational waterfront development on Grand Bahama Island.
Weller Continued, “What I am most proud of is how we have exceeded expectations on every single one of our community commitments. This is a big deal in development because there is a lot of mistrust in the community, especially in underserved communities. We came to Baltimore, and we did exactly what we said we were going to do. We kept our word to the community every step of the way, and we did all this while building a world-class project under budget and ahead of schedule – all during a global pandemic. We brought the South Baltimore (the SB6) together to try to enhance their quality of life and move their neighborhoods forward, and this is a prelude to what we are going to be doing next around the region and the country for years to come.”
Weller Development Partner, Steve Siegel, had this to say, “We are excited to continue to make an impact locally and internationally through additional projects that fit our mission as a double bottom line developer: building inclusive communities and spurring economic development while bringing value to our investors and the surrounding residents. We have an incredibly talented team of professionals with a very unique set of skills, and we are looking forward to continuing to demonstrate the impact of our work in new markets.”
About Weller Development
Weller Development is a dynamic and innovative real estate development firm
that builds world-class communities.Led by Founding Partner Marc Weller, the leadership team offers more than 100 years of combined real estate experience and a wide range of expertise. At the heart of the Weller Development ethos is a double bottom-line approach to development, designing strategies that are financially viable, while also providing positive social impact to surrounding communities. Weller seeks to create incredible places and meaningful experiences for a diverse audience.With a growing portfolio of distinctive mixed-use development projects and a proven track record of successful and celebrated ventures, Weller Development delivers value and results, no matter the complexity or odds.
To learn more about the impact of Weller Development and its work, visit: https://wellerdevelopment.com/.
