Maryland

Real estate company plans to revitalize former Cambridge Plaza

Real estate company plans to...

CAMBRIDGE, Md. - In Cambridge, a commercial real estate company has received the green light to kick-off a revitalization project that is set to revive an area filled with vacant businesses .

That area is the former Cambridge Plaza.  This location has been an eye sore for visitors and locals driving down Route 50 .

"Empty parking lots, and empty buildings, that have been empty for quite some time," says William Jackson, a Cambridge resident.

Jackson has been living in Cambridge for decades. He tells us he has seen small businesses and big box stores like K-mart come and go.

However, Pat Escher , the Cambridge City Planner, says this could be changing soon due to a new revitalization project that aims to give the city a much needed facelift.

"The city is really excited about this, we see this transformative project," says Escher.

Escher tells 47 ABC, Fairchild Properties,  a Virginia based commercial real estate company,  has bought the plaza and plans on revamping it.

Fairchild Properties has started doing that by changing the plaza's name to Cambridge Market Place.

We're told  Phase I of the project  includes adding a new entrance that is expected to make it more accessible to visitors.

"If you miss that service entrance you drive right by the plaza, so this will actually create an area that way you drive into it," says Escher.

Charlie Fairchild, from Fairchild  Properties tells us they are looking to place new lights, signage, and fountains along the entrance to make it welcoming.

Fairchild also says Phase I  will include redeveloping and demolishing buildings on the property.

"We're going to take down the old K-Mart, we are going to take down the Old Social Service building, the old grocery store, and the china buffet," says Fairchild.

As for Phase II,  that's when officials say new businesses are expected to move in.

"The existing taco bell will be resurfaced and finished to be a Starbucks and we are also looking at a Chic-fil-A," says Escher.

Fairchildsays they are working on bringing a grocery store into the Cambridge Marketplace.

Overall, Escher says this project  this will serve as a catalyst for future expansion in the city.

"People will come to the plaza  and enjoy it, but also investors will start looking at Cambridge and see that there is a lot going on," says Escher.

We're told  folks in Cambridge can expect to see demolition as well as construction begin in the next month, and  new businesses opening up by the end of this year as well as early 2018.

For more information on Cambridge Marketplace click here.


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