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1/7/2022
The Washington Metropolitan Area Transit Authority (WMATA) announced plans for a transit-oriented development (TOD) project adjacent to the existing Congress Heights Station in Washington, D.C.
WMATA is partnering with Standard Real Estate Investments, Trammell Crow Co. and National Housing Trust to build the development on a 1-acre vacant lot, which WMATA sold for the project, netting $3.1 million.
That land will join a larger 2-acre mixed-used development with plans for an office building and 179 affordable housing units supported by the District of Columbia’s Nonprofit Affordable Housing Developer Tax Relief Program.
To date, WMATA's existing TODs at 27 stations contribute more than $42 million in annual tax revenue to local jurisdictions and increase property values within a half mile by more than $160 billion. The Congress Heights TOD project will increase neighborhood ridership, reduce traffic congestion and create more affordable housing options, WMATA officials said in a press release.
“The sale of this land will support reinvestment in our core business and provide more access to transit in the communities we serve,” said WMATA General Manager and CEO Paul Wiedefeld.