Business: Silver Line, Iverson Mall, Steak n Shake

Silver Line trains working for some, PGCo has 2 of 3 sites on GSA shortlist for FBI headquarters, Steak n Shake moving in, Beltsville solar company goes public, more mixed use for College Park by way of Monument Village

Silver Line Party HatYou’d think I’d be leading with news about MGM Grand’s approval but my fellow Prince Georgians, that’s a post unto itself.  I’ve been riding Metro’s celebrated Silver Line since Monday.  Is it me or does anyone remember this kind of fanfare on May 11, 1991, when the first Green Line stations opened?  I remember being quite upset that the Shaw-Howard University station was opening the very day after I graduated from Howard University.  What I’ve noticed is that the display showing the name of the next station always works on the Silver Line but not on the Blue.  What’s that about?   And when will there be more Blue Line stations extending past Largo and New Carrollton?  What about our folk in Laurel and Ft. Washington?  They need train stations too.  According to a Rand report commissioned by the county council, “Three in five employed Prince George’s County residents work outside the county. Compared with neighboring jurisdictions, County residents are the least likely to live and work in the same county and most likely to work outside the state and to commute 60 or more minutes to work.”  We need more stations and better use of current stations.
FBIFeaturedImageBreaking FBI HEADQUARTERS News: Two sites in Prince George’s County are on the short list of choices for a new FBI headquarters.  From WUSA9: Two sites in Prince George’s County and one in Fairfax County are on the shortlist for the new FBI Headquarters. A joint panel of the General Services Administration (GSA) and the FBI released the locations Tuesday after concluding site evaluations for the new headquarters. The potential sites for a new consolidated headquarters for the FBI are:
Greenbelt – A portion of the site known as the Greenbelt Metro Station located near the intersection of Interstates 95/495 and Exit 24 (Greenbelt Station) in Prince George’s County, Maryland.
Landover – The site known as the former Landover Mall located near the intersection of Interstates 95/495 and MD 202 in Prince George’s County, Maryland.
Springfield – The site known as the GSA Franconia Warehouse Complex located near the intersection of Interstate 95 and Franconia Road in Fairfax County, Virginia.
The GSA will review the three sites and look for qualified developers.

Monument Realty‘s updated plan for the 3.78-acre Monument Village site at 9122-9128 Baltimore Ave in College Park, MD has received its final approval from the County Planning Director.
The original plan from developer JPI, approved in 2007, included 220 apartments and 25,000 square feet of retail, while the amended plan calls for 235 apartments, including 185 one-bed or studios and 50 two-beds, and a reduced retail component of 4,800 square feet along Route 1.
A grading permit application was filed in late 2013 and construction is expected to begin as soon as August, according to City of College Park.
– See more at: http://dc.citybizlist.com/article/46754/monument-village-construction-could-begin-in-august#sthash.nyqvI7eV.dpuf

 Iverson MallIverson Mall was purchased by Pikesville-based America’s Realty LLC and  $4 million in upgrades coming.  Understand that $4 million doesn’t go a long way in the world of mall properties so we’ll see what these upgrades amount to.  I was a major Iverson Mall Shopper for years.  It would be great for this place to make a comeback.  This is first mall purchase and largest purchase ever for America’s Realty.  From Baltimore Biz Journal, “The firm paid $27 million for the Iverson Mall in western Prince George’s County, a price that will allow the company to charge $11 per square foot to retailers. That rental rate, which is virtually unheard of in the Washington area, has already attracted a Rose’s store to the 527,000-square-foot shopping center with a 70,000-square-foot lease. Retail space in the area typically leases for more than $20 per foot. America’s Realty owns and operates more than 200 shopping centers nationwide. The Iverson Mall is anchored by a Burlington Coat Factory and a Forman Mills store and was about 90 percent occupied at the time of sale”

Steak n Shake
photo courtesy Online Athens

Steak n Shake is coming to Bowie; 8 in total to Maryland.  Ever been to a Steak n Shake? Me either but I’m glad to have another business set up shop in the county.  Steak n Shake is a San Antonio based, Illinois founded steakburger restaurant.  It’s signature menu items are the hand-dipped shakes (yummy fat) and their USDA organic certified steakburgers.  Steak n Shake looks like a Johnny Rockets in that the decor is retro.  Even the employee uniforms harken back to the days of drive-ins.  Their menus vary regionally.  I perused the New York City menu hoping that this will be a sign of what’s to come in Bowie. 

Based in Beltsville, MD, TerraForm Power ($TERP) scheduled a $401 million IPO on the Nasdaq with a market capitalization of $1.87 billion at a price range midpoint of $20 for Friday, July 18, 2014. – See more at: http://www.equities.com/editors-desk/investing-strategies/ipo/9-new-ipos-for-july-14wk#sthash.xz4QZpT5.dpuf
Based in Beltsville, MD, TerraForm Power ($TERP) scheduled a $401 million IPO on the Nasdaq with a market capitalization of $1.87 billion at a price range midpoint of $20 for Friday, July 18, 2014. – See more at: http://www.equities.com/editors-desk/investing-strategies/ipo/9-new-ipos-for-july-14wk#sthash.xz4QZpT5.dpuf

Solar PanelsBased in Beltsville, MD, TerraForm Power ($TERP) scheduled a $401 million IPO on the Nasdaq with a market capitalization of $1.87 billion at a price range midpoint of $20 for Friday, July 18, 2014. TerraForm will be the 18th energy-related IPO this year, the third most by industry sector after biotech and technology.  TerraForm Power (NASDAQ:TERP), an owner and operator of solar energy power plants. TerraForm Power, a SunEdison spinoff, plans to raise $401 million with its initial public offering by selling 20.1 million shares at 19 to 21 each. Read More At Investor’s Business Daily
 

Monument Village elevation from BEI
Monument Village elevation from BEI

Monument Village is a mixed use, student housing development coming to College Park, MD.  Located at 9122-28 Baltimore Avenue (at Cherokee Street), this University of Maryland housing is being developed by company, James G Davis Construction Corp  Construction on the site could begin in August and is expected to be finished in 2016. Wow. The development will include 235 apartments, a 335-space parking garage, pool, and retail space at the base of the building.  Monument Realty’s updated plan for the 3.78-acre Monument Village site at 9122-9128 Baltimore Ave in College Park, MD has received its final approval from the County Planning Director.  Citybiz reported, “A grading permit application was filed in late 2013 and construction is expected to begin as soon as August, according to City of College Park. The amended plan calls for 235 apartments, including 185 one-bed or studios and 50 two-beds, and a reduced retail component of 4,800 square feet along Route 1.”  The original plan was for over 25k square feet of retail but that has been greatly reduced.

Monument Realty‘s updated plan for the 3.78-acre Monument Village site at 9122-9128 Baltimore Ave in College Park, MD has received its final approval from the County Planning Director.
The original plan from developer JPI, approved in 2007, included 220 apartments and 25,000 square feet of retail, while the amended plan calls for 235 apartments, including 185 one-bed or studios and 50 two-beds, and a reduced retail component of 4,800 square feet along Route 1.
A grading permit application was filed in late 2013 and construction is expected to begin as soon as August, according to City of College Park.
– See more at: http://dc.citybizlist.com/article/46754/monument-village-construction-could-begin-in-august#sthash.nyqvI7eV.dpuf

 

Based in Beltsville, MD, TerraForm Power ($TERP) scheduled a $401 million IPO on the Nasdaq with a market capitalization of $1.87 billion at a price range midpoint of $20 for Friday, July 18, 2014. – See more at: http://www.equities.com/editors-desk/investing-strategies/ipo/9-new-ipos-for-july-14wk#sthash.xz4QZpT5.dp

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Comments (1)

Thanks for keeping us up to date, celebrating the county and pointing out that as Metro extends to other outer burbs ours deserve some love too!

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