The detailed site plan approved the core development of approximately 1.4 million square feet of retail; 800,000 square feet of office; 2,100 residential units and up to 300 hotel rooms. This will be situated on 132 acres along Interstate 95 between the planned Contee Road interchange at Van Dusen Rd. and the Intercounty Connector. The developers expect to break ground on the first phase within the next 12 months.
According to the developers, the project has received strong support from community, civic and homeowner associations. In a prepared statement, Karen Coakley, president of Beltsville Civic Association, says that residents have been waiting for a project like this for 26 years. "The residents contributed significantly in the planning process with Konterra, and [they] will continue to be involved in the project," she says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
