Officials from Prince George’s County, along with state and transportation representatives, announced a new $340 million development project aimed at revitalizing downtown Largo. The Promenade at Lottsford, a mixed-use retail and residential complex, is scheduled to commence construction in the spring of next year.
Located near the Downtown Largo Metro station, the project will be situated at the southwest corner of Lottsford Road and McCormick Drive. This initiative is a collaboration between Banneker Ventures, a D.C.-based real estate firm, and the Washington Metropolitan Area Transit Authority (WMATA).
Omar Karim, president of Banneker Ventures, emphasized the collaborative effort that has led to the project’s realization, stating, “This didn’t happen because someone stood up and talked about vision. It happened because a county and a state and a team of partners put real years and real dollars behind it until it became a buildable plan.”
The development is set to include 763 units of workforce housing and approximately 44,000 square feet of retail space. It is anticipated to generate over 800 construction jobs and create more than 150 permanent positions in Largo.
According to WMATA, the Downtown Largo Metro station serves around 2,800 riders daily, with nearby stations contributing to a total of 8,800 daily users. The agency projects that the new development will attract an additional 57,000 riders each year.
County Executive Aisha Braveboy has been instrumental in pushing the project forward, noting that Banneker Ventures has been working on this plan since 2018. She highlighted the county's ongoing development momentum, citing other significant projects in the area.
“We are now exceeding $18 billion in projects in Prince George’s County, and we’re just getting started,” Braveboy remarked.
Braveboy, a graduate of Largo High School, expressed her personal connection to the area, stating, “Largo has a special place in my heart. This is the center of gravity here in Prince George’s County.”
Reported by HarborBeat based on The Baltimore Banner (source).
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