Jake Shindel//July 6, 2022
//July 6, 2022
CHEVERLY — Prince George’s County Executive Angela Alsobrooks on Wednesday announced plans for the redevelopment of the county’s former regional hospital site in Cheverly into a $500 million mixed-use area with shops, hotels, grocery stores and more.
The project, which is still in the early stages of planning, will span 26 acres and include 1,000 housing units, 40,000 square feet of retail outlets and space for grocery stores and a new hotel, Alsobrooks said.
The site is the former home of the Prince George’s Hospital Center, which closed in 2021 and was replaced by the University of Maryland Capital Region Medical Center in nearby Largo.
The project is envisioned to take place over several years, officials said.
“We’re going to open in phases,” said Stephen Paul, executive director of the Prince George’s County Redevelopment Authority. “It’ll be a pretty aggressive first phase of tearing down some buildings, but we’re at least two years away from that.”
In addition to the buildings planned for the site, there are some environmental aspects that will be a part of the project as well.
“The project will also include state-of-the-art stormwater management, and there will be an innovative, renewable energy partnership with the Baltimore City-based Climate Access Fund, that will take solar energy generated on site rooftops, and credited to reducing utility bills of over 140 low and moderate income households in the surrounding neighborhoods, as a part of the Maryland Community Solar Program,” Alsobrooks said
Urban Atlantic won the bid to take on the project, beating out two other competitors. Caroline Kenney, managing director of public-private partnerships at Urban Atlantic, said her company is pleased to be a part of the partnership.
“We are thrilled to have this opportunity to partner with the redevelopment authority and the county executive’s office on this incredible project,” Kenney said.
Part of the funding for the project could come from residents in Prince George’s County, who will have the opportunity to invest in the project and have an ownership stake, Alsobrooks said.
“Prince Georgeans have another avenue to join this time of rising opportunity, as Urban Atlantic also plans to use CrowdStream and other crowdsourcing platforms to allow Prince Georgeans to invest in this project and receive an ownership stake,” Alsobrooks said. “Residents who would ordinarily be kept out of equity opportunities due to steep costs will have the chance to buy-in at a much lower, upfront cost.”
County Councilwoman Jolene Ivey said that local residents’ involvement in the project would have a positive impact.
“We hope that with all of the local involvement, it’s going to be smooth sailing, as smooth as it can be,” Ivey said.
Urban Atlantic staff will meet with town officials next week to begin the planning process for the project.