Real Estate Developments

Cafritz Property at Riverdale Park

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Description

Cafritz is a 37 acre, multi-phased, mixed-use development project in Riverdale, MD. The developer has owned the property since the 1950's according to the statement of justification for the development, and the development plans call for 22,000 sq ft of office space, 995 residential units, 162,000 square feet of retail space, and a 120-key hotel. The subject property is located within a close proximity to the proposed purple line station, College Park metro station, and the Riverdale Marc station. The site is also served by the local bus lines via WMATA & the University of Maryland shuttle. 

The site was previously zoned for residential development (R-55), however, the developer was able to re-zone the site to M-U-TC to capitalize on the proximity to transportation and the local infrastructure developments taking place. Calvert Tract LLC was able to come to an agreement with Prince George's County to construct "a vehicular and pedestrian bridge over the CSX railroad tracks."  The development team will build a "Trolley Trail" to promote hiking and biking throughout the community.

Calvert Tract LLC aims to build a moderate to high density site along the Route 1 Corridor. The development plans indicate that the group is seeking high quality retail tenants. One notable tenant, Whole Foods has signed a lease to occupy a portion of the retail space when the project is completed. The Cafrtiz at Riverdale Park is a Public Private Partnership which will create 463 full-time jobs, and $74.8 million in real wage earnings post construction. During construction, the project will create 1,921 full time jobs and $72.6 million in real wage earnings. The local schools will receive $6.4 million as a result of a school facilities impact fee. 

This development borders four communities: Hyattsville, College Park, University Park and Riverdale.

Project Details

Type

Mixed-Use

Status

Planned

Address

Route 1 & Baltimore Avenue

City

Riverdale

State

MD

Zipcode

20737

Construction

New Development

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Source(s):
www.cafritzpop.com
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Number of units for rent

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Number of units for sale

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Number of affordable housing units

LEED Designation

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Parking Spaces

Zoning

M-U-I

Hotel Rooms

120

Retail Space

162

Office Space

22

Square Footage

0

Lowest Housing Sales Price

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Highest Housing Sales Price

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Lowest Rent Price

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Highest Rent Price

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Neighborhood:

Riverdale

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# of Residential Units in Progress:

Hotels Rooms in Progress:

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Closest Metro Station:

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          Sources:

          www.cafritzpop.com