January 11th, 2023 by WCBC Radio

RAZ Development and the Cumberland Economic Development Corporation, on Tuesday, announced that they have entered a contract governing the acquisition and development of the former Memorial Hospital site for new market rate apartments, townhomes, and single-family homes. RD is a privately held real estate developer and asset manager located in Bethesda with over 10 years’ experience in all phases of residential and commercial real estate development including the $10 million dollar acquisition of 10 Commerce Drive in Cumberland in 2021. A priority of the CEDC since the organization’s inception, executive director Matt Miller said the partners are well-positioned to deliver a multi-million dollar project to meet the pressing housing needs of the region, and attract new families and individuals to the area…