Alcoa Corporation has completed a sale of land in the state of Maryland for USD 100 million in cash. The 2,100-acre property covers more than three square miles in Frederick County, Maryland and once served as the site of the former Eastalco smelter, which permanently closed in 2010. The sale transaction, completed on June 23, 2021, was between Eastalco Aluminum Company, a wholly owned subsidiary of Alcoa Corporation, and a joint venture between Quantum Loophole and TPG Real Estate Partners. Since the smelter's closure, Alcoa has worked to prepare the site for redevelopment, including removing former facilities, completing all required remediation activities, and grading the site's land for new business opportunities. Quantum Loophole intends to develop the property into a next-generation data center community, following the county’s comprehensive Liveable Frederick Master Plan that calls for new employment and opportunities for local businesses. Project plans include efficient design for sustainable power and water use, investments in robust fiber connectivity, a nature first design aesthetic to protect views and reduce visibility from public roadways, and thoughtful preservation of existing structures important to local history.
Alcoa Corporation has completed a sale of land in the state of Maryland for USD 100 million in cash. The 2,100-acre property covers more than three square miles in Frederick County, Maryland and once served as the site of the former Eastalco smelter, which permanently closed in 2010. The sale transaction, completed on June 23, 2021, was between Eastalco Aluminum Company, a wholly owned subsidiary of Alcoa Corporation, and a joint venture between Quantum Loophole and TPG Real Estate Partners. Since the smelter's closure, Alcoa has worked to prepare the site for redevelopment, including removing former facilities, completing all required remediation activities, and grading the site's land for new business opportunities. Quantum Loophole intends to develop the property into a next-generation data center community, following the county’s comprehensive Liveable Frederick Master Plan that calls for new employment and opportunities for local businesses. Project plans include efficient design for sustainable power and water use, investments in robust fiber connectivity, a nature first design aesthetic to protect views and reduce visibility from public roadways, and thoughtful preservation of existing structures important to local history.
