The Arts District Hyattsville development will be worth roughly $200 million.
According to numbers compiled by Stuart Eisenberg of the Hyattsville Community Development Corporation, the row homes, apartments and retail will add $196 million to the city’s tax base when they are built out.
These numbers are estimates because the project is not completed and tax assessors have not evaluated all of the properties.
On the west side of Route 1, Eisenberg estimates the 124 row homes add $52.7 million, 11 live/work units add $5.8 million and community space adds $1 million.
On the east side, Eisenberg estimates that the 184 row homes will add $78.2 million, the 246 apartment units add $44.3 million and the 38,000 square feet of retail adds $14 million.
That kind of high-density redevelopment is particularly helpful to a city like Hyattsville, which doesn’t have many options to expand geographically.
I think The Mall at Prince George’s should be redeveloped into a town center. It’s location is far enough away from residential neighborhoods to even have 30 story towers. Looking down from Google Maps, there’s an awful lot of develop-able space. It just screams mixed-use.