Earlier this month, The Port Covington Development Team announced MAG Partners and MacFarlane Partners will take over as the development partners of the Port Covington Development. Weller Development will exit the project at the completion of the 1.1 million sq. ft. Chapter 1B phase in Fall 2023.
The Port Covington Development Team is owned by Kevin Plank’s Sagamore Ventures and Goldman Sachs Urban Investment Group. MAG Partners and MacFarlane Partners are becoming investors in the project.
A total of 177 acres of development are planned for the project. This will include 14 million sq. ft. of mixed-use development on 45 new city blocks.