LANHAM, MD—Berman Enterprises will begin development of the second phase of its New Carrollton project within the next three months now that it has received $2.5 million from the state's Economic Development Incentive Fund.
Plans call for the development of two luxury apartment buildings with 20,000-square feet of ground floor retail space.
The first phase of the project was anchored by Maryland's Department of housing and Community Development three years ago, when the agency signed a 97,332-square foot lease for Berman to build a four-story office building at the site.
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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.
