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Waldorf, MD Rental Market Overview
Mixed-Use Waldorf Urban Redevelopment Corridor Project Tantalizes Investors
It's been more than half a decade in the planning, but late last year the Charles County Commissioners Office revealed specific plans for the first conceptual phase of the Waldorf Urban Redevelopment Corridor. While Waldorf Maryland is primarily a bedroom community, the proposed redesign of downtown would optimize and condense residential, commercial and retail space while providing commuters with light rail transportation options that would extend to Washington D.C. Currently the commissioners estimate that of the 60,000 Southern Maryland daily commuters to Washington D.C., more than two-thirds are from Charles County alone. They anticipate that the project would help reduce I-95 traffic congestion and attract more investment and development throughout the Waldorf region.
When is the Right Time to Enter the Market?
The county commission estimates that the light rail project won't connect with Waldorf for a dozen years, which would be sometime around 2025, but design bids could come into play in late 2014 or 2015. While $5 million is budgeted for examining transit options, the Maryland Department of Planning could require up to $25 million before planning is complete, a process that will seem glacial to restless individual investors sitting on liquid assets right now. Figuring out the right key entry point won't come from the Charles County Commissioner's Office. If you're worried about timing for expanding your existing rental assets, talk to a real estate professional at a property management company in the Waldorf area. In addition to offering tenant and maintenance services, most Charles County property management companies can keep you informed about new developments in your market. Because property managers work with a range of clients throughout the area, they're more attuned to fluctuations in the rental and property markets and can offer details and specifics you won't find in a local business journal blurb. Take a moment to review our list of Waldorf property managers and then request your free information today.