The Latest Developments Popping Up In Prince George's County
1. The Margaux, a new 291-unit housing development in New Carrollton, broke ground this summer. It will offer modern, transit-oriented housing at below-market prices. The Margaux is part of the second phase of the 2.3M SF New Carrollton Joint Development with Metro and Urban Atlantic to create more affordable housing in the community. “We are so proud to break ground on another historic project in New Carrollton,” Prince George’s County Executive Angela Alsobrooks said in a statement.
2. The Aster Apartments development, a 393-unit multifamily complex by Bozzuto, Terrapin Development Co. and Willard Retail in the heart of College Park, is leasing up in time for the fall semester. The project will provide housing to University of Maryland students and workers needing convenient access to the Green Line at College Park Metro Station. The development includes a new, 15K SF Trader Joe’s.
3. Gilbane Development Co. is underway with construction on the Atworth, scheduled to complete in spring 2024. The transit-oriented, mixed-use project next to College Park Metro Station will offer 451 affordable units ranging from studios to three-bedroom units. It will also include a 5K SF retail space and a four-level parking garage, along with 12K SF of leasing, lobby and amenity space, with hiking and biking trails.
4. Developer Perseus TDC broke ground on The Six, the county’s first National Green Building Standard Gold-certified complex last month. The 316-unit, 400K SF mixed-use development in Hyattsville’s University Town Center aims to provide housing near the recently renamed Hyattsville Crossing Metro Station with at least 75% of the building’s units designated as affordable housing.
5. Development companies Manekin and Turnbridge Equities have signed a major tenant at their 5.5M SF National Capital Business Park project in Upper Marlboro. They signed a lease with Ferguson Enterprises for 358K SF to handle next-day deliveries for businesses and customers within 100 miles, Commercial Observer reported. Manekin and Turnbridge's $1B warehouse and distribution campus is slated to complete its first phase in mid-2023.
6. The Towne Square at Suitland Federal Center, the largest active redevelopment in the county, continues to deliver new components. The 25-acre, $400M mixed-use project broke ground in 2017 and will eventually include 2M SF of new development, including 1,000 residential units, 100K SF of retail, a 120-room hotel, office space and a 50K SF cultural arts center. The senior housing component opened earlier this year, and residents have been moving into townhouses since 2020, the Washington Informer reported.
