Management & Operations

WMATA selling surplus property to cut costs, generate revenue

Posted on January 16, 2019

The Washington Metropolitan Area Transit Authority (WMATA) announced that eight surplus properties are up for sale in Maryland, Virginia, and the District with potential for commercial, residential, and/or mixed-use development. The parcels include several sites near or adjacent to Metro stations, including Columbia Heights, College Park, and Glenmont.

The sale of surplus property is expected to save money by reducing maintenance expenses on property WMATA no longer needs, while generating additional revenue for capital and operating expenses.

“Our riders want affordable, cost-effective public transit and to do that we need to find new sources of revenue and efficiencies,” said Metro GM/CEO Paul J. Wiedefeld. “We are turning over every stone, looking at all of our assets to get the most out of every dollar and ensure continued financial stability.”

All eight parcels are in areas surrounded by commercial or residential development and provide infill opportunities that will benefit the neighboring community. The offering includes more than 7,000 square feet of land in the heart of Columbia Heights on Park Road, close to popular restaurants and retailers that is prime for development.

An additional property adjacent to Glenmont Metro is also being offered for ground lease.

WMATA is evaluating all of its surplus property holdings and expects to provide additional properties for sale over the next two years.

View comments or post a comment on this story. (0 Comments)

More News

Study explores how to attract, retain women in transportation industry

Women accounted for less than 15% of the total transportation workforce in 2017, according to data.

Report says NY MTA misled public for years about subway delays

MTA said "report is more history and politics than news, focusing on rejected practices of the past while glossing over recent reforms."

Tolar receives 3rd consecutive multi-year DART shelter contract

Company has developed a customized SmartPlace™ transit shelter solution that includes real-time passenger information.

MV partners with Latinos in Transit to promote industry diversity

LIT members are public and private sector transportation professionals from across the U.S.

TriMet names new chief operating officer

Sam Desue Jr. brings more than 22 years of public and private transportation experience, including KCATA and Pierce Transit. 

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation