On Budget and On Time - Patuxent Business Park Takes Shape

PRINCE FREDERICK, Md., -- June 19, 2006 - Paving is complete at the Patuxent Business Park (PBP) in Lusby, Md. - ahead of schedule and on budget. The paving project, part of Phase I work that also includes infrastructural development like wastewater management, electric, sewer and water systems, allows for the late summer start of construction on the Park’s first building, a 20,000 square foot office condominium.

The building, to be managed by Osprey Development Company, a real estate development and investment company, will be designed to house up to eight office condominiums that will sell at competitive Southern Maryland rates.

PBP is Southern Maryland’s first comprehensively planned business campus, designed to accommodate a wide range of innovative businesses. The project grew out of the County’s desire to recruit high technology organizations and build on Calvert’s ideal proximity to the Patuxent River Naval Air Station and the nation’s capital.

With significant assistance from the Maryland Department of Business and Economic Development (DBED), and cooperation from the Maryland Economic Development Corporation (MEDCO), the County created a partnership that has, together, designed the 700,000 square foot Park, clearly demonstrating why Calvert County is the place where quality of life, an entrepreneurial climate and forward-thinking partners come together.

For more information on the Patuxent Business Park, contact the County’s sales and development team at Coldwell Banker Commercial Capitol Realty Services at 800.359.5035 or via e-mail at paxbuspark@cbccapitol.com or visit www.patuxentbusinesspark.com

For more information on the Calvert County, Maryland Department of Economic Development, our visitor sites and attractions and the services available to assist County businesses, call 410.535.4583, 800.331.9771 or 301.855.1880; or send an e-mail to info@ecalvert.com