WASHINGTON, DC—The rather lukewarm response to recent station development opportunities offered by Metro is not a sign that area developers are no longer enamored with transit-oriented development projects.
In fact, Stan Wall, Metro's director of real estate and station planning, said, “It's not a tragedy,” that development opportunities at the College Park-U of Maryland station and Capitol Heights station received one bid each or that a solicitation for the Huntington station garnered no bid whatsoever.
Hall adds that in the case of the Huntington station, the last station on the Yellow Line in Fairfax County, the lack of interest was likely due to “a matter of timing,” according to the Washington Business Journal.
Metropolitan Development Group submitted the lone bid for the 5.16-acre site College Park station site, for a mostly residential project. In connection with the Capitol Heights Metro station, Donatelli Development submitted the sole bid for a project that calls for residential and retail space. The project site is located less than a half mile from A&R Development's planned Walmart-anchored Capitol Gateway project. See story in the Washington Business Journal.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.