Mount Rainier Groundbreaking Sets Path for Future Growth

MOUNT RAINIER, Md. (August 15, 2016) – An August 1 groundbreaking kicked off redevelopment efforts in Mount Rainier. The redevelopment of the 3300 block of Rhode Island Avenue will restore three historic buildings that have been vacant for 10 to 25 years. These buildings, located in the heart of Mount Rainier, will create housing on the upper floors and retail space on the ground floors. The project brings together a vibrant mix of uses that activates the commercial core of Mount Rainier.

The redevelopment project encompasses three buildings: 3300 Rhode Island, 3308 Rhode Island and 3310 Rhode Island. 3300 and 3308 Rhode Island Avenue will contain 11 residential apartments on the upper floors and a 6,800 square foot hardware store on the ground floor. The apartment mix consists of two studio, seven one-bedroom and two two-bedroom apartments. 3310 Rhode Island Avenue will contain a 1,600 square foot café/restaurant. The project will be designed and certified to meet LEED Silver standards. The project is scheduled for completion in July 2017.

The economic impact is noteworthy; the project is anticipated to create 22 construction jobs, 38 permanent jobs and bring 11 new households to the area. The project is expected to generate more than $3.5 million in tax revenue over the first 10 years of operation.

The Maryland Department of Housing and Community Development helped finance a portion of the acquisition costs with $475,000 from its Strategic Demolition Fund program. The total acquisition cost of the three buildings was $1.08 million. The total development costs of the project are $4.58 million.

The Strategic Demolition Fund program played a critical role in the project by providing financial assistance to the Redevelopment Authority of Prince George’s County to complete site assembly on the project. The Redevelopment Authority of Prince George’s County selected the Menkiti Group as the primary developer on the project.

The Strategic Demolition Fund is a state-funded program that provides local and county governments and community development organizations with financial assistance for projects aimed at accelerating economic development and job production in existing Maryland communities. Eligible activities of the Strategic Demolition Fund program include demolition of derelict non-contributing structures, site acquisition and assembly to create redevelopment-sized parcels for solicitation or planned development, site development, and construction-level architectural and engineering designs.

Additional financing for the project came from the Redevelopment Authority of Prince George’s County and Sandy Spring Bank.