It’s now official; the proposed Meridian Square office project in Oakland Mills Village Center is kaput. The developer, Metroventures USA, has announced that they were unable to secure an extension to their purchase agreement with the property owner, Exxon Mobil Corporation and was therefore forced to drop the project.
Curiously, the president of Metroventures, Olusola Seriki, is blaming the county for his failure. According to a story by Derek Simmonsen in the The Columbia Flier, Seriki wrote that “that special conditions the county placed on the project delayed the developer’s ability to secure financing and complete the land purchase.”
What a pile of rubbish!
The county went way out on a limb to help this ill conceived project by agreeing to purchase a full floor in the project. The only thing the county asked the developer to do in return was to prove that there was enough demand for the project in the private sector to make it economically feasible. Metroventures was unable to do that. Now they are blaming the county for their own shortcomings.
Metroventures has shown it has no class.
In the Moment
20 hours ago