Prince George’s County is taking the rare step of acting as master developer and investing roughly $100M to build a mixed-use town center in Suitland.
The county has already spent $48M acquiring and demolishing a series of dilapidated properties in Suitland. It then spent another $1.5M for the land-use process and $1.3M for civil engineering.
On Friday the county announced plans to invest another $52M in the next two years acquiring more properties and building the infrastructure and public utilities.
Once it finishes these pre-development steps—ones typically paid for by private developers—the county hopes to find development partners to sell these “finished lots” so they can begin vertical construction without having to worry about land use, infrastructure or utilities.
Click here to read the rest of the article written by Jon Banister over at Bis Now