PenMar Development Corporation

Real EstateMaryland, United States0-1 Employees

PenMar Development Corporation operates as a state public instrumentality focused on redeveloping Fort Ritchie in northeastern Washington County, Maryland, for civilian use after the base closed in 1998. Based in Cascade, the organization manages a 591-acre site that includes on-site buildings, a water system, an electric substation, and a community center. Its ownership history includes a 2006 transfer of Fort Ritchie from the Army to PenMar, a sale to Corporate Office Properties Trust for mixed-use development the following day, and PenMar regaining ownership in 2012. The site currently hosts a Tudor-style lakeside wedding venue, Lakeside Hall, a residential district with 98 townhouses or duplexes, and the Fort Ritchie Community Center offering programs for residents and visitors. PenMar's purpose is to convert a former military installation into civilian uses, with offerings that serve event organizers, families, and local organizations in the Cascade area. As a public instrumentality operating in the real estate sector, the organization administers a historic site with public access features and ongoing community activities.

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