An Important Announcement About The Cheverly Hospital Redevelopment

By County Executive Angela Alsobrooks

(Excerpted From Community Connections Special Edition July 6, 2022)

Alsobrooks

We are pleased to announce that the Redevelopment Authority of Prince George’s County has selected national developer Urban Atlantic to redevelop the former Prince George’s Hospital site in Cheverly. This announcement is a continuation of our efforts to capitalize on a time of rising opportunity for our residents.

  When the hospital relocated to Largo last summer, the County was presented with 44 acres of opportunity to improve the surrounding community. The community planning process for this site started before the old Cheverly Hospital was closed, and a vision for the future of this location began to take shape.

  Sitting at the highest point in the County, the mixed-use development of the 44-acre hilltop site will include sweeping views of the Nation’s Capital and brings with it a $500 million investment in Prince George’s County that will create 1,000-plus units of housing activated by 40,000 square feet of retail, hospitality, and multi-use space, including much-needed grocery space, a new hotel, and an adaptive reuse of the existing primary hospital tower, all in a historically underserved area.

  Development plans for this project include direct trail connections to both the Anacostia Trail Network and the Cheverly Metro Station, which will allow future residents and employees to have efficient and convenient transportation options. The project will also include state-of-the-art storm water management as part of an innovative renewable energy partnership with the Baltimore City-based Climate Access Fund that will take solar energy generated on-site rooftops and credit it to reducing the utility bills of over 140 low-and-moderate-income households in surrounding neighborhoods as part of the Maryland Community Solar Program.

  We are extremely excited about this project because it will allow our residents to take ownership in this location’s renewal. During the selection process, the Redevelopment Authority required a high level of minority participation in building and ownership and as a result, at least 40% of sponsor equity in the project will be targeted to minority and local businesses and individuals in the creation of this economically, socially, and environmentally sustainable community. We are excited about the innovative strategies that the Urban Atlantic team plans to use to meet these participation requirements.

 Prince Georgians will have yet another avenue to join in this time of rising opportunity, as Urban Atlantic also plans to use Crowd Street and other crowdsourcing platforms to allow individuals to invest in this project and receive an ownership stake. As a result, residents who would ordinarily be kept out of equity opportunities due to steep costs have the chance to buy in at a much lower upfront cost.

  This project is an example of our desire to make sure all of Prince George’s County rises together and it fits in line with our economic development vision. Before the pandemic, Prince George’s County was the economic engine of the State, leading Maryland in job growth. We are healthy and growing again, with help from projects like this one. The County will benefit from this project, which will add an estimated 2,350 jobs in the development phase and 275 permanent jobs upon completion.

  The redevelopment team has pledged their commitment to creating a space where our community’s entrepreneurs and small businesses can thrive, where freelancers and artists can grow, and where career training can help residents find new career paths. The future is bright for the Cheverly community.

 As we move forward, we will continue working to sow the seeds that will present new opportunities for economic development, housing, and greater possibilities for our residents. We will never stop working to make Prince George’s County an even greater place to live, to work, and to visit.

Yours in service,

Angela Alsobrooks

Prince George’s County Executive