The West Hyattsville project is the first offshoot of a larger concept--the Transit Oriented Development Strategy--envisioned by the Maryland Department of Transportation, Maryland-National Capital Park and Planning Commission, the City of Hyattsville and WMATA, as a means of transforming the 15 Metro-centric areas of Prince George's county into live-work-play "transit villages."
When all is said and done, the West Hyattsville TOD will feature about 460 mid-rise condominiums, 330 condo units in high-rise structures, 200,000 sf of office space, 65,000 sf of retail offerings, and a 600-space garage that will go up in place of the existing parking facility. The first phase of the undertaking will yield a selection of townhomes and condo units, while the second phase will produce more condos, as well as the office and retail segments.
Centex/Gunston's development will occupy three parcels--one 18-acre plot that is currently owned by the joint venture; a 10-acre spot that is in the process of being purchased from WMATA; and another 18-acre plot that will be leased. All the acreage allows the developers to incorporate many of the essentials involved in a TOD plan, including parks, open spaces, trails and, in this case, a new lake.
While the gargantuan endeavor will likely carry an equally enormous price tag, a WMATA spokesman tells GlobeSt.com that the transportation organization does not release information on development costs for such projects. Centex representatives were unavailable for comment.
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