WMATA Board approves development team for New Carrollton transit oriented Development

The Washington Metropolitain Area Transit Authority's Board of Directors approved the selection of a development team led by Forest City Enterprises and Urban Atlantic Development to create a signature transit oriented development project around the New Carrollton Metrorail station in Prince George's County. The Board also approved a Memorandum of Understanding with the development team, the first step in a joint approval process with the Maryland Department of Transportation, which is expected to sign off on the MOU and developer selection in early April. "Transit oriented development around the Metro system generates millions of dollars for the region," said Metro General Manager and Chief Executive Officer Richard Sarles. "We are pleased to be working with Maryland on this public private partnership that allows Metrorail to serve as an economic engine." Metro and MDOT combined properties to offer 39 acres for redevelopment around New Carrolton in a joint Request for Qualifications that was issued in September 2010. Following a rigorous evaluation of five groups that responded to the solicitation, the selection team unanimously chose the Forest City/Urban Atlantic Development team to lead the project. The agreement also includes a new approach to funding predevelopment planning, with MDOT making available $350,000 and Metro agreeing to reimburse the development team for up to $650,000 of consultant costs to support station development planning. Together, MDOT and developer-provided funds will pay for the design of the public and private elements of New Carrollton development and for the inclusion of Metro, MDOT and community stakeholders as active participants in the process.