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.
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