Berman Receives $2.5M From State for Phase 2 of New Carrolton Project
Berman Enterprises is preparing to begin development of the second phase of its New Carrollton project after receiving $2.5M from the state’s Economic Development Incentive Fund.
Development should begin within the next three months, GlobeSt. reports. As part of the project’s first phase, Berman landed the project for the HQ of Maryland’s Department of Housing and Community Development, a four-story, 97k SF office building at the site. Phase 2’s plans call for two luxury apartment buildings with 20k SF of ground-floor retail.
New Carrolton has been a hotbed of activity, partially stemming from the WMATA’s redevelopment of the New Carrolton Metro station. A JV of Forest City and Urban Atlantic plan to develop 49 acres of mixed-use adjacent to the Metro stop, with plans to build one piece a year over the next 15 years. [GS]
