Amazon’s $125M partnership with WMATA to fund transit-oriented development in the D.C. region has borne fruit at two Prince George’s County Metro stations.
Amazon is investing $81.7M combined into two multifamily projects, it announced Tuesday, pumping $56.3M into Gilbane Development Co.’s project at the College Park Metro station and $25.4M into an Urban Atlantic building at New Carrollton.
The investments are being made to help ensure that both projects, which combined would yield more than 700 apartments, would remain affordable for those making less than 80% of area median income for 98 years, according to details released Tuesday by Amazon and WMATA.
“Thanks to Metro’s nation-leading joint development initiatives and Amazon’s commitment to affordable housing, the future is bright for smart growth near Metro and other transit options in Prince George’s County and throughout the entire region we serve,” said Paul Wiedefeld, general manager and CEO of WMATA, in a statement.
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