A proposed affordable housing development near the New Carrollton Metro station is advancing plans to bring hundreds of new residences to one of Prince George’s County’s major transit-oriented communities. As reported by Hannah Ziegler of the Washington Business Journal, RST Development is proposing to replace the one-story commercial property at 7591 Annapolis Road with a six-story residential building containing 282 apartments. Nearly all of the units would be designated for households earning up to 60% of the area median income.
The project represents more than an expansion of the County’s housing supply. New residential development near transit can contribute to a stronger local business environment by increasing the number of residents living close to restaurants, retailers, professional services and other neighborhood amenities. New Carrollton’s connections to Metro and regional transportation also make the area an important gateway for workers, residents and businesses throughout Prince George’s County.
For the County’s business community, continued residential investment around New Carrollton can help create the population density needed to support additional commercial activity while improving access to the regional workforce. The development also reflects the broader role that attainable housing can play in economic development. When workers have more opportunities to live near employment centers and transportation, businesses benefit from a more accessible labor pool and communities are better positioned to retain household spending. As Prince George’s County continues to grow around its transit assets, projects that connect housing, transportation and commercial activity can contribute to stronger and more sustainable economic corridors.
Read the original article: Washington Business Journal