I am inspired by the vastness of this property and its pristine, quiet environment that is surprisingly close to a major interstate and amenities. The internal trail system crisscrosses about the property providing ample access. This extensive development tract, known locally as Terrapin Run and less commonly known as Oak Ridge Estates Development, has been through a large portion of the pre-development process and was recently re-zoned to GU General Use to make way for future growth. This particular site presents a unique development opportunity as the only large residentially zoned tract lying in the path of the residential expansion that is flowing Westward along the I-68 corridor from the Baltimore-Washington Metroplex. This potential development site, known as Oak Ridge Estates Development, is a 927+/- acre parcel with over a mile of frontage on a primary highway (U.S. Route 40) and lies about 1/2 mile north of and parallel to I-68. Road access from the Interstate is less than 2 miles to the potential development site. It is located near the easterly boundary of Allegany County, only six (6) miles from the Western border of Washington County. This tract is primarily forested and joins large state forest tracts, including the Green Ridge State Forest and Billmeyer Wildlife Area. The parcel is generally rectangular and moderately sloped, with small streams and headwaters of Terrapin Run in the center. The surrounding area has numerous natural amenities, including the 48,000-acre Greenridge State Forest with miles and miles of hiking, ATV trails, horse trails, and a local stream named 15 Mile Creek, a state-stocked trout stream. The development pattern in Western Maryland has been rapid with the westerly spread of residential development from the Baltimore-Washington metropolis area westerly along the I-70 and I-68 corridors into Fredrick and Washington counties. Both counties have recently adopted land use/development standards restricting significant residential developments. Due to Tier II restrictions, it is unlikely that there will be any significant competing developments within 20 miles in any direction. This tract is believed to be the only large tract in Western Maryland within 100 miles of the cities of Baltimore and Washington that is a designated growth tract zoned for major residential development. Contact me today to discuss showing terms and conditions.
- Designated Growth Area in the County Master Plan
- Zoned GU-General Use in which planned residential development are a permitted use
- 45 Mile drive to Hagerstown
- 100 Mile drive to Baltimore
- 100 Mile drive to Washington D.C.
- 10- miles to Rocky Gap Golf Course and Casino
- One mile+/- of Rt-40 National Pike Road frontage
- 1.5+/- miles of West Shipley Road frontage
- Multiple test drinking wells have been drilled on the property
- Allegany County
- 1,148 feet
- $11,340 - Annual property tax
|June 30, 2022||Price decrease||$3,000,000||$499,900 -14.3%||—|
|Sept 28, 2021||New listing||$3,499,900||—||—|