The WMATA has recently announced that they have removed the property on Albion Road and Baltimore Avenue from the market.
Earlier, the community, College Park City Council, the County Council members, and the 21st Delegation expressed serious concerns about the process surrounding the surplus of the property. The groups asked the WMATA Board to pull this property from the surplus process.
The property was listed publicly by NAl Michael for sale and it was characterized as commercial land; however, the property is zoned single-family residential that does not support commercial development. The Maryland-National Capital Park and Planning Commission is interested in adding to its green infrastructure and upon learning of this surplus opportunity late in the process, placed a competitive bid to WMATA.
Groups requested that the surplus process for this property be put on hold and have the Maryland- National Capital Park and Planning Commission (M-NCPPC) to purchase and maintain the Albion Road property as open space and parkland in the green infrastructure network.
In response to these requests, WMATA has removed the Albion Road property from the market and is offering M-NCPPC an opportunity to purchase the property. To consummate the property sale, WMATA must comply with the Federal Transit Administration’s (FTA) regulations for the disposition of property purchased initially using federal funds. That process requires WMATA to sell the property for “fair market value”, which is equal to $2.1 million for the Albion Road property.
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The sale of the property will be conditioned on the FTA’s concurrence of the purchase price and the WMATA Board of Director’s approval. Prior to seeking FTA concurrence and the WMATA Board of Director’s approval, M- NCPPC and WMATA will enter into a Purchase and Sale Agreement, a draft of which will be sent to M-NCPPC by this month.
WMATA anticipates executing the agreement no later than June 30, 2019, after which M-NCPPC may start its due diligence prior to closing. WMATA expects that M-NCPPC will be able to close on the sale of the property within ninety (90) days, but in no case later than December 31, 2019.