The Evolution of Prince George's County's Economic Development Plan

How the latest developments and projects of Blue Line Corridor, New Carrollton, the FBI and College Park is changing the game for the county.

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  Angela Alsobrooks

  A proud, life-long Prince Georgian, Angela was raised in Camp Springs and now resides in Upper Marlboro with her daughter, Alex. After graduation from the University of Maryland Law School, Angela began her career as a Prince George’s County Assistant State’s Attorney in 1997, eventually becoming the county’s first full-time prosecutor assigned to handle domestic violence cases where she tried, and successfully prosecuted scores of cases against violent offenders. In 2002, Angela was appointed by the County Executive to serve as Education Liaison, where she organized educational forums to help increase parental involvement in schools and environmental based learning opportunities. In 2003, she was appointed the Executive Director of the county’s Revenue Authority. Under her leadership, the agency increased revenue by 40% through their parking enforcement program and some of those funds were used to help the county maintain a balanced budget during the recession. In 2010, overcoming a two-percent name recognition against a field of candidates who had all run for public office previously, Angela, by an overwhelming margin, was elected to serve as the county’s State’s Attorney, becoming the youngest and first woman to be elected to the office in Prince George’s County. As State’s Attorney, Angela led a staff of 100 attorneys and 110 professional administrative staff responsible for prosecuting people accused of committing crimes. As the county’s top law enforcement official, Angela played a key role in public safety and strived to carry out her responsibilities in a firm, fair and consistent manner. She increased the office’s budget by 40% and successfully fought for additional resources to ensure the office could appropriately support the needs of the community. A hallmark of Angela’s approach as State’s Attorney was to engage the community to prevent further crime. She created a truancy reduction initiative that works with schools to keep kids on the right path and she started a program called Back on Track – Prince George’s aimed at giving low-level, non-violent offenders a second chance in the community. Under her leadership, prosecution rates rose across the board and remained steady over the last eight years. Alsobrooks and her office have been a major factor in the record crime reduction the county has seen over the last four years and the 50% reduction in violent crime over the last seven. In November, Angela was elected as the 8th County Executive for Prince George’s County and the first female to hold the position. Angela is a member of the First Baptist Church of Glenarden and the Delta Sigma Theta Sorority and is involved in the effort to raise breast cancer awareness in her community.

  Prince George's County

  County Executive

  Angela Alsobrooks

  County Executive

  Prince George's County

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  Angie Rogers

  Angie Rodgers is the Deputy Chief Administrative Officer for Economic Development in the Office of Prince George’s County Executive Angela Alsobrooks. She provides leadership and oversight to 10 County-chartered, quasi- and independent agencies focused on economic development projects, affordable housing, parks & planning, tourism, small business growth, employment/workforce development, and arts. With a track record of executing mixed finance transactions and large-scale development projects, Rodgers joined the Office of the County Executive from the District of Columbia where she most recently served as the Chief of Staff to the Deputy Mayor for Planning and Economic Development (DMPED). Previously, she was the Director of the New Communities Initiative (NCI) in DMPED where she was responsible for the redevelopment of four public housing neighborhoods with a development potential up to 6,000 residential units, 100,000 square feet of commercial space and a $2 billion valuation. Possessing a diverse background in affordable housing, real estate finance, policy research and public advocacy, Rodgers is adept at collaborating with regional and national stakeholders to implement innovative solutions to community challenges.

  Prince George's County

  Deputy CAO, Economic Development

  Angie Rogers

  Deputy CAO, Economic Development

  Prince George's County

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  Brad Frome

  Brad Frome graduated cum laude from the University of Maryland with a BS in government in politics and attended law school at George Washington University.  Brad started his career in Maryland government working for a member of the House of Delegates in 2003, staying in Annapolis until 2005.  Brad then served as a chief of staff to a member of the Prince George’s County Council for five years before joining Rushern Baker’s Administration.  In the Baker Administration he served first as Deputy Chief of Staff than as an Assistant Deputy Chief Administrative Officer for economic development and public infrastructure where he coordinated policy initiatives for the county as well as economic development projects.  Brad then joined the Administration of Angela Alsobrooks serving as her Director of Strategic Operations.   Brad recently joined the private sector as a government affairs consultant working for Perry White Ross and Jacobson specializing in legislative affairs at the state and local level as well as economic development project coordination.     Born and raised in suburban Philadelphia Brad is married with two small boys.

  RISE Investment Partners

  Partner

  Moderator

  Brad Frome

  Partner

  RISE Investment Partners

Prince George's County Emerging Submarkets

As development continues to grow, what types of opportunities are being present in different submarkets within the county?

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  Caroline Kenney

  As President of The Menkiti Group’s Neighborhood Transformation platform, Caroline Kenney is responsible for oversight and strategic direction of the Company’s $2 Billion Real Estate Development pipeline, 60-property portfolio of mixed-use operating assets, and $50 Million Obsidian Catalyst Fund. The firm’s Development and Asset Management portfolios extend along the Eastern Seaboard, with major concentrations in the Washington, DC, and Boston, MA regions. Prior to joining The Menkiti Group in the Fall of 2024, Caroline enjoyed a nearly 20-year tenure with Urban Atlantic, completing over $1 Billion in mixed-use, mixed-income real estate projects and spearheading landmark public-private developments such as the 66-acre Parks at Walter Reed (DC), 45-acre Cheverly Hospital Redevelopment (MD), and 350-unit mixed-income Trella multifamily development in Charlotte (NC). She has worked with a wide range of public partners including the Washington Metropolitan Area Transit Authority; multiple agencies of the District of Columbia and Prince George’s County; and housing authorities in Washington, Tampa, Greensboro, Charlotte, Memphis, and Baltimore. Early in her career, Caroline worked with affordable housing developers East Lake Management and Lawndale Christian Development Corporation (both Chicago based). Caroline holds a Master’s Degree in Urban Planning and Policy from the University of Illinois at Chicago and a BA in Political Philosophy from Wheaton College (IL). She serves on the Board of Jubilee Housing, the Advisory Committee of the ULI Washington Women’s Leadership Initiative (past Chair), and the Leadership Council of the ULI P3 Product Council (Blue Flight), and serves in multiple capacities with the Ward 7-based Peace Fellowship Church (DC).

  Menkiti Group

  President, Development, Asset Management & Capital

  Caroline Kenney

  President, Development, Asset Management & Capital

  Menkiti Group

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  Nihar Shah

  Nihar serves as a Partner in Transwestern Development Company’s Washington office, overseeing the Mid-Atlantic region. He is responsible for the financial health and execution of development projects, sourcing new deals, and structuring capital. Nihar has sourced over $800 million of product in the region in addition to leading the development, management of sales and leasing operations and the dispositions of more than 3.8 million square feet of real estate across mixed-use, hospitality, multifamily, condominium and townhome product types valued at over $1.5 billion across 15 different projects and delivering over 2,300 units of housing in the area. Nihar started his foray into the industry by working in project management for general contractors, where he managed the construction of data centers, government facilities and mixed-use apartment communities. He is a United States Air Force veteran and separated as a Captain after serving in Operation Iraqi and Enduring Freedom. Nihar earned a bachelor’s degree in electrical engineering from Boston University and a Master of Business Administration from the McDonough School of Business at Georgetown University.

  Transwestern Development Company

  Partner

  Nihar Shah

  Partner

  Transwestern Development Company

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  Carri Cowan

  Carri Cowan leads development activities for the strategic priority development projects for Banneker Ventures, a value-added real estate development and construction firm with $700 million in projects underway in Prince George’s County and the District of Columbia. She has helped grow the Company’s real estate development division into an extensive portfolio of assets with 1,500+ units of affordable, workforce and mixed-income housing and 90,000 sq. ft. of retail space. Carri combines her passion for real estate, cultivated during a tenure at top hotel company Marriott International Inc. with early training in financial services at JP Morgan, to drive strategy and execution for the development division. Carri has participated in over $500 million of development deals with complex capital sources including low-income housing tax credits, PILOTs, traditional debt, institutional equity, and mezzanine financing. Carri enjoys travel and has visited over 30 countries. She is an active member of Delta Sigma Theta Sorority, Incorporated and founding member of the Prince George’s County Community Foundation Emerging Impact Fund. Carri is a native Washingtonian and spent a significant portion of her childhood residing in Prince George’s County. She earned a B.BA. in Finance from Howard University and an MBA in Entrepreneurship, Marketing and Finance from Northwestern University’s Kellogg School of Management.

  Banneker Ventures

  Development Director

  Carri Cowan

  Development Director

  Banneker Ventures

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  Drew Romanic

  Drew heads The Martin Architectural Group's commercial division, managing a spectrum of retail and mixed-use commissions from grocery anchored strip fit-outs to overall master planning and design of regional lifestyle centers. Drew maintains a hands-on approach with his projects – from design and construction documents through construction administration. His duties specifically entail client representation during construction and leasing efforts. In addition to the composition of Lease Outline Drawings, Tenant Manuals, and tenant fit-out permit and construction documents, he can provide tenant coordination between fit-out and shell documentation as well.

  Martin Architectural Group

  Principal & Partner

  Drew Romanic

  Principal & Partner

  Martin Architectural Group

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  Dawn Medley

  Dawn Medley is the President and CEO of FSC First. Medley has more than 25 years of commercial lending experience, including complex credit analysis, underwriting and loan closing. She provides day-to-day management and staff support to the origination, lending, closing, portfolio and asset management activities along with program and resource development. Additionally, Medley assists the President & CEO with revenue forecasting from lending activities and strategic planning. She also serves as the EDI Fund Manager.

  FSC First

  President & CEO

  Moderator

  Dawn Medley

  President & CEO

  FSC First

Prince George's State of the Market

The hottest asset classes, the newest economic development growth, the newest trends and technology, and more!

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  David Iannucci

  David S. Iannucci is the President and CEO of the Prince George’s County Economic Development Corporation (EDC) with a passion for business growth and expansion. Often referring to economic development as the foundation of wealth creation upon which community benefits are built upon, Iannucci is dedicated to enhancing the quality of life in Prince George's County and works diligently to do so daily. Mr. Iannucci has played a prominent role in economic development projects across the state of Maryland, including leading the County's effort to develop the 2013 Strategic Plan for Economic Development under which the County ascended to the rank of #1 in job growth in the State of Maryland. He was also intricately involved in the updated 2022 Strategic Plan for Economic Development which will be published later this year. As the head of the Prince George's County Economic Development Corporation, Mr. Iannucci oversees the County’s $50 million Economic Development Incentive Fund, which has leveraged over $1.1 Billion in private sector investments and has played a prominent role with the County’s key initiatives such as the pursuit of the U.S. Federal Bureau of Investigation headquarters, the opening of the brand new, state of the art University of Maryland Capital Region Medical Center, and multiple Transit Oriented Development projects including the economic expansion around the Blue Line Corridor and the future Purple Line. Appointed by County Executive Angela Alsobrooks, Mr. Iannucci previously served under former County Executive Rushern Baker, III as the Assistant Deputy Chief Administrative Officer for Economic Development where he oversaw the activities of EDC, FSC First, and the Conference and Visitors Bureau. In both his current position and former position, he directs Prince George’s County’s efforts to retain and support the existing business community. In his 45-year career, Mr. Iannucci has served in many positions within state and local government. His previous positions include Secretary of the Maryland Department of Business and Economic Development, Executive Director of the Baltimore County Department of Economic Development, and under former Maryland Governor William Donald Schaefer, Chief Legislative Officer. Mr. Iannucci is a 1979 graduate of the University of Maryland School Of Law, a member of the Maryland Bar, and a 1974 graduate of the University of Maryland College Park. David S. Iannucci is also a former President of the Maryland Economic Development Association and is a member of the MEDA Hall of Fame. A long-time resident of Prince George's County, he resides in Bowie with his wife and daughter. Attachments area

  Prince George's County EDC

  President & CEO

  David Iannucci

  President & CEO

  Prince George's County EDC

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  Chris Grant

  Chris Grant works at the intersection of real estate, private equity, and technology with a mission to increase access for communities who have historically had the least.    Chris is the founder of Yoke Management Partners, a diversified real estate investment firm with a focus on affordable housing in the DMV, and the co-founder of Purview, a technology platform that simplifies responsible finance.    Previously, Chris was an investment manager at Blueprint Local focused on opportunity zone investments across the Southeast region. Chris structured mixed-use development investments with an aggregate asset value over $820M. Before that, Chris worked in Oakland, CA with Radicle Impact Partners, a leading impact-focused venture capital firm and in Washington, DC with Promontory Financial Group, now an IBM Company. Chris serves on the Local Initiatives Support Corporation’s Emerging Leaders Council (LISC ELC) and the investment committee of Ignite Capital, a $4M social impact investment fund offering seed financing for Baltimore-based social enterprises led by historically underserved entrepreneurs. Chris, a 2021 Forbes 30 Under 30 lister in the Finance Class, received his MBA from the Stanford Graduate School of Business and his bachelor’s degree from the Robert H. Smith School of Business at the University of Maryland. Chris was born and raised in Baltimore, MD and currently resides in Prince George's County with his wife, daughter, and dog.

  Yoke Management Partners

  Partner

  Chris Grant

  Partner

  Yoke Management Partners

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  Nick Umosella

  Nick Umosella is a Development Manager for Bozzuto Development Company and has been involved in more than $600M in projects over the course of his career. Most recently he served as the lead on Liberty Harbor East in Baltimore and Aster College Park. With a tenure spanning seven years at Bozzuto, he previously held the role of Project Manager for Bozzuto Construction Company. A graduate of both Penn State University’s Architectural Engineering program and Johns Hopkins Master of Science in Real Estate and Infrastructure, Nick has spent more than fifteen years in various roles overseeing development, design and construction.

  Bozzuto Development Company

  Development Manager

  Nick Umosella

  Development Manager

  Bozzuto Development Company

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  John Norjen

  John Norjen serves as Senior Vice President and Managing Director of Brandywine Realty Trust, and is responsible for managing the Company's investments and operations for the Metropolitan Washington region. Prior to joining Brandywine in 2018, Mr. Norjen was Senior Vice President, Investments for Corporate Office Properties Trust, where he completed over $2.5 billion in acquisitions and sales. Mr. Norjen began his career as an investment sales advisor in Washington, D.C., representing institutional clients in the completion of over $6 billion in property sales for JLL, CBRE and Eastdil Secured. He currently serves on the leadership team of the Urban Land Institute’s Office Development Council. Mr. Norjen has a bachelor's degree in Computer Science from Loyola University Maryland and a Master's degree in Finance from Rice University in Houston, Texas.

  Brandywine Realty Trust

  SVP and Senior Managing Director – Metro DC

  John Norjen

  SVP and Senior Managing Director – Metro DC

  Brandywine Realty Trust

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  Jerome (Jay) Shuman Jr.

  An experienced real estate and finance attorney in the firm’s Washington, DC office, Jay represents investors, developers, lenders, and REITs in joint ventures, mortgage and construction financing, individual and portfolio purchase and sale transactions, and leases in various asset types from multifamily, commercial and mixed-use projects, and senior living facilities. Jay also practices in public finance, where he has acted as counsel to borrowers, lenders, and municipal issuers in numerous tax-exempt and taxable bond deals, including tax increment financings and conduit bond issues. Jay earned a J.D. from New York University School of Law, where he served as Articles Editor for the Journal of Legislation and Public Policy. He received a B.B.A. in Finance, cum laude, from Howard University. He is a recipient of the Albert E. Arent Pro Bono Award for his work in affordable housing. Previous Work Prior to joining ArentFox Schiff, Jay was an Associate County Attorney in the Office of Law for Prince George’s County, Maryland, representing the County in its major real estate, development, and finance transactions. He also has extensive corporate experience from his time in private practice in New York. Life Beyond the Law A born-and-bred Washingtonian, when not working, Jay enjoys spending time with his family and is a car enthusiast. Jay is also a member of the Board of Directors to the Hyattsville Community Development Corporation, a nonprofit focused on economic development and community engagement in Prince George’s County, Maryland.

  ArentFox Schiff,

  associate

  Moderator

  Jerome (Jay) Shuman Jr.

  associate

  ArentFox Schiff,

Opening Remarks

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  Tyisha Cottman

  Tyisha has been in the banking industry for 27 years. She has extensive experience in assisting clients in the Non-Profit, Commercial Real-Estate, and Professional Sectors reach financial success through cash management solutions. Tyisha’s team is responsible for building, maintaining and growing existing and new deposit relationships with Treasury and Cash Management needs. Tyisha served as Chair for United Bank’s Diversity Equity and Inclusion Council in 2021, where the Council takes pride in their role as community leaders and recognize that the Diversity of the team supports the company’s overall mission to provide excellence in service to customers, employees, shareholders and communities.

  Senior VP & Regional Manager – East Region

  United Bank

  Tyisha Cottman

  United Bank

  Senior VP & Regional Manager – East Region