It's evident that , but just what kind of development will be most successful? College Park will participate in a study that could help answer that question.
Council voted to take part in a . Data from the study is expected to reveal how much and what kind of development the area can absorb.
“I don’t think any decent market study has probably been done of the area since maybe 2006,” Councilman Bob Catlin (Dist. 2) said at Tuesday’s Mayor and Council meeting.
The cost to the city is $5,000, but council decided it was worth it, voting 6-1 in favor of participating.
“With a pretty serious recession since , and we’ve had a lot of construction take place in the arts district and … Route 1 in College Park, I think it would be great to have an updated study and let us know how everything is fitting together,” .
The data drawn from the study will help measure the demand for services, and the spending trends along the corridor from south of I-495 in College Park through the Gateway Arts District in Hyattsville, (CDC), which will administer the study.
These are important indicators for evaluating projects and planning for future development capacity and character, the proposal reads.
“This is going to do a great service to your smaller businesses,” CDC Executive Director said when he presented the study to College Park City Council a week ago.
The study will also document , and analyze current development proposals on the table, such as .
College Park becomes the third municipality along the corridor to jump on board with the study. , and .
All three have pledged $5,000 to the study, which is projected to cost $25,000 in all.
CDC is also seeking financial contributions from Riverdale Park, the county executive’s office, and .
The market study will include a special focus on the plans, according to the proposal.