Land Slated for 1,300 Housing Units Hits Metro DC Market
A Prince George’s County plot inside the Capital Beltway and primed for nearly 1,300 residential units is now available for purchase, reports the Washington Business Journal.
NAI Michael brokers Barbara Richman Kahn, Michael Isen and Michael DiMeglio have been retained to market the 38-acres property in Capitol Heights, after the undeveloped land gained approvals for the potential development of both residential units and commercial development.
“The landowner wanted to get it teed up and then sell it,” Richman Kahn told WBJ, noting they expect it to garner interest of large developers, but that the different elements of the project could be built by different companies.
In 2020, the county approved the site for senior living apartments, rental apartments, for-sale condos, fee-simple townhouse lots and assisted-living units. The site could also see retail and commercial development along with green space.
The land sits in an Opportunity Zone and is zoned for mixed-use development.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.