Montgomery County and Metro are moving ahead with a plan to develop a huge parcel of public land at the White Flint Metro station, but the project is still far from starting construction.
The county and the Washington Metropolitan Area Transit Authority agreed to a memorandum of understanding on the 20.2 acres of WMATA-owned land surrounding the Red Line station about a year ago, and officials with both WMATA and the county say they’re making progress on this effort. The ultimate goal is to strike a joint development agreement with companies to manage the complex process and finally bring a surge in new construction to the neighborhood that officials have long sought.
But before things can move forward, Metro is working with real estate firm JLL to get a more granular view of the property’s potential, according to Liz Price, WMATA’s new vice president of real estate and parking. Specifically, Price said Metro wants to understand the “highest and best use” of such a large site, including whether County Executive Marc Elrich’s vision of a life sciences-focused campus there is actually achievable.
Click here to read the rest of the article written by Alex Koma over at Washington Business Journal
