New and ongoing development projects - Riverdale Park Station

State of the Economy Previews New and Ongoing Development Projects in Prince George’s County

Market Insight

There are a number of new and ongoing development projects that are contributing to economic development in Prince George’s County, according to the 2016 Prince George’s County State of the Economy Address that NAI Michael had the pleasure of attending on April 13, 2016.

Many new and ongoing development projects were highlighted during the State of the Economy for Prince George’s County. County Executive Rushern L. Baker III, Jim Coleman of the Prince George’s County EDC, Derrick L. Davis of the County Council, and Jim Estepp of the Prince George’s Business Roundtable all spoke about the transformation and re-envisioning of the County. In fact, Baker said that there are more than $7 billion worth of projects in the pipeline, including:

In addition to the new and ongoing development projects, it has been a great year for new retail in Prince George’s County. Many national businesses are set to open new doors in the County. They include Harris Teeter, Krispy Kreme, Dave & Buster’s, and Nordstrom Rack.

New Carrollton is also in position to become a new transportation hub, or Prince George’s County’s version of Union Station. The area around the Metro will be redeveloped with high-end apartment buildings and new retail. It will be anchored by 2U, an education-focused company that is expected to grow to over 1,000 employees in the next few years.

Interested in Retail Opportunities? Contact Us.

All of this activity will lead to new interest in Prince George’s County, for everything from office space to land for mixed-use communities. Expect to see many more changes coming to the county in 2016!

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