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Highest and Best Use Analysis Redevelopment Site Located at 5801 and 5809 Annapolis Road Cheverly, MD
Highest and Best Use Analysis Redevelopment site located at 5801 and 5809 Annapolis Road Cheverly, MD Prince Georges County Redevelopment Authority | February 2018 www.greendooradvisors.com Executive Summary Green Door Advisors (GDA) was retained by Prince George’s County Redevelopment Authority (Redevelopment Authority) to conduct a highest and best use market analysis for a proposed development at 5801 and 5809 Annapolis Road within the town limits of Cheverly, MD. The Redevelopment Authority previously issued an RFP for development of this site, and it was planned for the development of 244 luxury two-bedroom condominium units priced from $300,000 to $350,000, but the selected developer was unable to execute the development agreement. In 2013, GDA completed a residential market and financial analysis to help determine whether the original disposition agreement was viable given the residential market, it was determined that the original program was not financially feasible given market conditions. Now that the Redevelopment Authority is preparing to issue a new solicitation for redevelopment of the subject property, GDA has completed a follow-up study to determine the highest and best use for the site based upon current market conditions. This study examines the market opportunity for multiple potential product types including hotel, rental and for-sale housing, office, and retail development. The following table presents a summary of the market opportunity for each of the product types: Product Type Level of Opportunity Summary Hotel Strong • Opportunity for 95-115-room Limited Service Hotel by 2020/2021. • Subject site is established hotel location. Condominiums Low • No condominiums actively selling in the market area. -
Abuse of Prisoners Detailed
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Retail Opportunities Guide 301-583-4650 •
RETAIL OPPORTUNITIES GUIDE 301-583-4650 • www.pgcedc.com 1 Vision Statement To attract and retain the most Experienced workforce who will use Innovative technology to provide ecient, eective services to our citizens. We will Collaborate with our stakeholders to develop Solutions that are data-based and rely on best-practices to address complex challenges within the county and the region. We will have a world-class education system, safe communities and a robust economy that creates jobs and opportunities for all and increases the commercial tax base to ensure we can provide the services our residents deserve. ALSOBROOKS PRIORITIES Education Transportation & Infrastructure Crime Reduction & Safe Neighborhoods Youth Development Economic Development Procient & Transparent Government Quality of Life & Environment 2 CONTENTS Greetings . 4 Why Prince George’s . 6 County Profile . 6 County Amenities . 8 Profiles in Retail . 9 Upcoming Projects . 12 Map of Shopping Center Profiles . 13 Shopping Center Profiles . 14 Andrews Manor . 14 Ritchie Station Marketplace . 44 Beltway Plaza . 16 Riverdale Park Station . 46 Bowie Marketplace . 18 The Shoppes at New Carrollton . 48 Bowie Town Center . 20 The Shops at Iverson . 50 Brandywine Crossing . 22 South Lake . 52 Cadillac Crossing . 24 Tanger Outlets National Harbor . 54 Capital Plaza . 26 Towne Centre at Laurel . 56 Carillon . 28 Towne Square at Suitland Centre at Forestville . 30 Federal Center . 58 Hampton Park . 32 University Town Center . 60 HEATHER R . TINELLI Kettering Plaza & Largo Plaza . 34 Vista Gardens West . 62 Director of Business Development The Landing at Woodyard . 36 Westphalia Town Center . 64 Retail & Restaurants Woodmore Commons . 66 301-583-4617 The Mall at Prince Georges . -
3Q08 Property List Reformatted for Supplement
Property List For the nine months ended September 30, 2008 Investor Relations Department 3300 Enterprise Parkway • Beachwood, Ohio 44122 (216) 755-5500 • (216) 755-1500 (fax) www.ddr.com Developers Diversified Realty Quarterly Financial Supplement For the nine months ended September 30, 2008 PROPERTY LIST YEAR DDR'S OWNED & TOTAL DEVELOPED/ YEAR EFFECTIVE MANAGED ANNUALIZED LOCATION CENTER NAME/ADDRESS MSA REDEVELOPED ACQUIRED INTEREST OWNED GLA GLA BASE RENT ANCHOR TENANTS (LEASE EXPIRATION) ALABAMA 1 BIRMINGHAM, AL (BROOK) BROOK HIGHLAND PLAZA BIRMINGHAM 1994/2003 1994 100.0% 424,341 551,258 $4,247,331 DICK'S SPORTING GOODS(2017), LOWE'S(2023), STEIN MART(2011), OFFICE MAX(2011), MICHAEL'S(2014), HOMEGOODS(2016), BOOKS- A-MILLION(2010), ROSS DRESS FOR LESS(2014) 5291 HWY 280 SOUTH 2 BIRMINGHAM, AL (EASTWOOD) EASTWOOD FESTIVAL CENTRE BIRMINGHAM 1989/1999 1995 100.0% 300,280 463,560 $1,082,029 DOLLAR TREE(2013), BURLINGTON COAT FACTORY(2013), WESTERN SUPERMARKETS(NOT OWNED), HOME DEPOT(NOT OWNED) 7001 CRESTWOOD BLVD 3 BIRMINGHAM, AL (RIVER RIVER RIDGE BIRMINGHAM 2001 2007 15.0% 172,304 349,804 $2,782,985 STAPLES(2016), LINENS 'N THINGS(2012), BEST BUY(2017), SUPER RIDGE) TARGET(NOT OWNED) US HIGHWAY 280 4 BIRMINGHAM, RIVERCHASE PROMENADE (I) BIRMINGHAM 1989 2002 14.5% 120,108 228,416 $1,686,360 MARSHALLS(2009), GOODY'S(NOT OWNED), TOY'S R US(NOT AL(RIVERCHASE) OWNED) MONTGOMERY HIGHWAY 5 CULLMAN, AL LOWE'S HOME IMPROVEMENT CULLMAN 1998 2007 100.0% 101,287 101,287 $682,500 LOWE'S(2015) 1717 CHEROKEE AVE SW 6 DOTHAN, AL (CIRCUIT CITY) CIRCUIT CITY DOTHAN 2004 2007 100.0% 33,906 33,906 $567,926 CIRCUIT CITY(2020) 2821 MONTGOMERY HWY 7 DOTHAN, AL(SHOPS) SHOPS ON THE CIRCLE DOTHAN 2000 2007 100.0% 149,085 149,085 $1,651,947 OLD NAVY(2010), T.J. -
CENTRAL AVENUE TRANSIT-ORIENTED DEVELOPMENT CORRIDOR DEVELOPMENT STRATEGY Prince George’S County, Maryland June 15, 2006
CENTRAL AVENUE TRANSIT-ORIENTED DEVELOPMENT CORRIDOR DEVELOPMENT STRATEGY Prince George’s County, Maryland June 15, 2006 FINAL Project For: Prepared By: Washington Metropolitan Area Transit Authority (WMATA) In Cooperation with: The Maryland-National Capital Park and Planning Commission (M-NCPPC) Parsons Brinckerhoff Prince George’s County Planning Department Bay Area Economics Maryland Department of Transportation (MDOT) Stull+Lee Architects Maryland State Highway Administration (SHA) This page intentionally left blank. TABLE OF CONTENTS Introduction 3 Project Purpose Project Partners Context 4 Study Area Planning Context Why Now? Existing Conditions, Opportunities and Challenges 7 Physical Profile Historic and Cultural Resources Transportation and Safety Data Community Concerns, Comments, and Vision 17 Corridor Strengths/Corridor Weaknesses Examples of Places People Like Central Avenue in 10 Years TOD Corridor Development Concept 21 Foundational Elements Goals Development Concept Corridor Elements 24 Benefits Circulation and Safety Street Improvements Gateways Land Use Green Network Noise Pollution Management Prince George’s County, Maryland 1 Center Elements 47 Transit-Oriented Development (TOD) Capitol Heights Metro Community Center and Addison Road Metro Community Center Hill Road Metro Regional Center (Proposed) and Morgan Boulevard Metro Regional Center Crime Prevention through Environmental Design (CPTED) Implementation 66 Appendix I - V 74 2 Central Avenue TOD Corridor Development Strategy INTRODUCTION Project Purpose The purpose of the Central Avenue TOD Corridor Development Strategy is to create a comprehensive development approach for the corridor that: 1. Takes advantage of its location and transportation resources; 2. Provides opportunities to unify and strengthen the corridor’s identity; 3. Creates attractive pedestrian- and transit-oriented places; and 4. Facilitates public facilities financing and timely construction. -
SHOPPING CENTERS in the MARYLAND/DC/VA AREA Commuter Student Involvement
SHOPPING CENTERS IN THE MARYLAND/DC/VA AREA Commuter Student Involvement www.union.umd.edu/csi Arundel Mills 7000 Arundel Mills Cir. Fair Oaks Mall Hanover, Md., 21076 11750 Fair Oaks 410-540-5110 Fairfax, Va., 22033 Hours: 10 a.m. to 9:30 p.m. M-S 703-359-8300 11 a.m. to 7 p.m. Sun Hours: 10 a.m. to 9:30 p.m. M-S http://www.arundelmillsmall.com/ 11 a.m. to 6 p.m. Sun www.shopfairoaksmall.com Beltway Plaza Mall 6000 Greenbelt Road Fashion Centre at Pentagon City Greenbelt, Md., 20770 1100 S. Hayes St. 301-474-2683 Arlington, Va., 22202 Hours: 10 a.m. to 9:30 p.m. M-S 703-415-2400 12 p.m. to 6 p.m. Sun Hours: 10 a.m. to 9:30 p.m. M-S www.beltwayplazamall.com 11 a.m. to 6 p.m. Sun www.simon.com/mall/default.aspx?ID=157 Boulevard at the Capital Centre Lottsford Road and Arena Drive Free State Shopping Center Largo, Md., 20774 15500 Annapolis Road 301-333-2583 Bowie, Md., 20715 Hours: 10 a.m. to 9 p.m. M-S 301-464-1911 11 a.m. to 6 p.m. Sun Website Unavailable Website Unavailable Iverson Mall Bowie Town Center 3737 Branch Ave. 15606 Emerald Way Hillcrest Heights, Md., 20748 Near Mitchellville Road 301-423-7400 Bowie, Md., 20774 Hours: 10 a.m. to 9:30 p.m. M-S 301-860-1818 11 a.m. to 6 p.m. Sun Hours: 10 a.m. -
The Technologic Command. the Demolition Is Inside the Building Itself, Becoming an Autoplastic Moment, the Paradigm Is the Digital Architecture
THE TECHNOLOGIC COMMAND. THE DEMOLITION IS INSIDE THE BUILDING ITSELF, BECOMING AN AUTOPLASTIC MOMENT, THE PARADIGM IS THE DIGITAL ARCHITECTURE. POLITICS ENVIRONMENT POLITICS ENVIRONMENT ECONOMY SOCIETY SOCIETY SOCIETY POLITICS TECHNOLOGY ECONOMY ENVIRONMENT ECONOMY TECHNOLOGY TECHNOLOGY Technology as the dominant force in the contemporary context as stated by Agamben Alloplastic Demolition Autoplastic Demolition in the τέχνη Age: in the Technology Age: demolition as creative usage demolition as command HARDWOOD WINDOWS 50 STEEL WINDOWS 50 COPPER PIPEWORK 47 ALUMINIUM WINDOWS 44 STRUCTURAL GLASS CURTAIN WALLING 43 ALUMINIUM DECKING TO FLAT ROOF 39 COMPOSITE CLADDING SYSTEM 38 INSULATION TO FLAT ROOF 36 SOFTWOOD WINDOWS 36 FOUNDATIONS 110 INTERNAL GLASS DOOR 29 TIMBER JOISTS 90 RADIATORS 29 BRICKWORK 86 LIGHT SWITCH 27 TIMBER PITCHED ROOF 84 SPRINKLER HEAD 26 STEEL FRAME 83 SUSPENDED CEILINGS 24 CONCRETE FRAME 81 PRECAST CONCRETE SLAB 78 INTERNAL FLEXIBLE DOOR 18 CONCRETE STAIRS 74 AIR-CONDITIONING CHILLER 17 STEEL AND REINFORCED CONCRETE FLOOR 71 AIR-CONDITIONING HEATER 17 TIMBER FRAME 69 VINYL SHEET FLOOR COVERING 17 SOFTWOOD STAIRS 64 AIR-CONDITIONING FAN 15 TILE COVERING TO PITCHED ROOF 64 CARPET FLOOR COVERING 13 PAINT 5 COPPER SHEET COVERING 63 WALL PAPER 4 STEEL STAIRS 59 FLUORESCENT TUBE 4 INCANDESCENT LIGHT BULB 2 CHIPBOARD DECKING TO TIMBER JOISTS 51 0 25 years 50 years 75 years 100 years highest rate of obsolescence highest rate of demolition slowest rate of obsolescence slowest rate of demolition Technology enters the building Assemblage of failures 5 4 3 2 1 (1) Objects (2) Plan (3) Services (4) Skin (5) Structure A building can be understood as a assem- blage of systems with various rate of technological obsolescence.