Prince George's County Council voted Tuesday to pump millions of dollars to save a failed Hyattsville development, Prince George's County Bureau Chief Tracee Wilkins reports.
Prince George's County Council voted Tuesday to pump millions of dollars to save a failed Hyattsville development.
University Town Center debuted six years ago as the county's first mixed-use development near a Metro station. However, many of the retailers couldn't afford the rent and residents weren't moving into the area -- one of the condo buildings foreclosed.
"On this corner, literally, all we have is a 5 Guys [Burger and Fries] and Q'Doba and everything is empty," council member Will Campos said.
The rapid decline of the property also scared off what was supposed to be a Safeway store -- an anchor for the area. Campos is pushing for a $3.5 million incentive from the county and the City of Hyattsville to subsidize a new $23.5 million mixed-use development, next door to University Town center.
Through two county programs, the new development won't owe taxes for 15 years and $2 million will go toward construction.
"This is a great area to live in but it would be nice to have more resources, more money coming in here for development," resident Faye Taylor said.