For the first time in seven years, the Washington Metropolitan Area Transit Authority (WMATA) is soliciting multi-site properties for development into transit-oriented projects, agency officials announced yesterday.
As the Washington, D.C., area grows, transit-oriented development projects are "increasingly attractive" to residents and businesses as a way to manage traffic congestion and improve quality of life, WMATA officials said in a press release.
The five development sites that WMATA is offering are Brookland-CUA, Fort Totten, Navy Yard (Chiller Plant), Grosvenor-Strathmore and Morgan Boulevard.
"The interest that has already been expressed in these sites is an indication of the crucial role Metro is playing in the growth of the region," said WMATA General Manager and Chief Executive Officer Richard Sarles.
The agency is seeking developments that focus on safe, walkable and attractive communities that will work well with existing transit service, agency officials said. The projects would help WMATA achieve its "Momentum" strategic plan that calls for ensuring financial stability by generating increased ridership and rental income for transit service, as well as improving regional mobility and connecting communities, they said.
The solicitations, which are posted online at wmata.com/realestate, will be publicized through real estate organizations and trade publications.
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