Apartments and retail are finally coming to the College Park Metro station.

The Washington Metropolitan Transit Authority announced today that it has signed an agreement to develop a high-end mixed-use residential and retail project on the current location of the Park & Ride surface lot.

Gilbane Development, which is also building townhomes near the West Hyattsville Metro station, will construct a 440-unit building with 13,000 square feet of retail space. The plan also calls for a one-acre “village green” with new landscaping and bicycle facilities.

Once an out-of-the-way location, the Metro station is increasingly becoming a new hub of activity in College Park. The station is on the Green Line, which is fast becoming the new Red Line, as well as the MARC commuter rail line and soon the Purple Line light-rail system, not to mention a likely bike-sharing station.

Also, the nearby Discovery District research park has become a hot place for businesses, along with some new public art.