Mixed-Use Project Planned For Prince George's County Metro Station Lacking In TOD
A Metro station in Prince George's County that has not experienced the transit-oriented development seen in other parts of the region could soon welcome a new mixed-use project.
The Prince George's County Planning Board is scheduled Thursday to consider Banneker Ventures' plans for a 193-unit project with 11K SF of ground-floor retail across the street from the Addison Road-Seat Pleasant Metro station.
Banneker Ventures acquired the site about two years ago and brought on Neighborhood Development Co. as a development partner on the project, Banneker founder Omar Karim told Bisnow in a phone interview.
Karim said he has been told the planning board will push its vote on the project back to next month, but it remains on the board's agenda for Thursday. The county planning staff has recommended approval. Karim said the team aims to break ground within the next year.
The project, branded as Park Place at Addison Road Metro, is being designed by Torti Gallas + Partners. It is planned for a vacant, 3-acre lot on the southwest corner of the intersection of Central Avenue and Addison Road in Capitol Heights, directly across Addison Road from the Metro station.
"We try to focus on transit-oriented development projects, and clearly working on a project that's directly across the street from the Metro is very attractive," Karim said.
The site is across Central Avenue from a low-rise retail center with surface parking that includes a Dollar Tree, Planet Fitness, Game Stop, CVS and Domino's Pizza. Apart from the shopping center, the Addison Road Metro station is surrounded by a WMATA parking garage, surface parking and single-family housing.
It is one of several stations in Prince George's County that have not experienced the same level of transit-oriented development as stops in D.C, Montgomery County and Northern Virginia. Prince George's County has sought to spur more TOD with a rewrite of its zoning code.
"Prince George's County has the most undeveloped land around transit systems, so we hope this will continue to spark the redevelopment of transit land in Prince George's County," Karim said.
The project is planned to include apartments ranging from studios to three-bedroom units. Its amenities would include a rooftop deck with grilling stations, outdoor kitchen, fitness facility, pool room, media room, landscaped courtyard, underground parking with bicycle storage and 24-hour concierge service.
For Park Place's retail space, Karim said he is looking to bring in community-serving businesses such as a bank, dry cleaner or café. He said he has been in talks with potential tenants and expects to have at least one deal closed within the next year.
Karim said his team is working to finalize the project's financing. Given the site's location in an opportunity zone, he said he has receiving frequent calls from opportunity zone investors interested in the project. He said he is considering using opportunity zone investment but is still exploring all options.
Banneker, which Karim founded in 2005, has business lines in development, general contracting, construction management and facilities management. It is also planning to develop multifamily projects in Anacostia and Columbia Heights.