Second Gateway Arts District Groundbreaking for Landex and RDA of Prince Georges County
County Executive Rushern L. Baker, III, members of the Gateways Art District, local and municipal officials and members of the Landex Development team gathered to celebrate the groundbreaking for Artisan 4100, a new apartment building being constructed on Rhodes Island Avenue in the heart of the Gateway Arts District.
Developed by Landex Development, Artisan 4100 is designed to meet LEED Gold standards and will feature 84 market rate apartments, 4800 square feet of retail space and music studios. The building will offer advanced sustainable living options and will be powered by solar panels and offer electric charging stations as well as access to zip car and bike share.
The $29 million dollar project, along with its sister development, Studio 3807, is a visible sign of the commitment by local authorities as well as private investors in the growth of the area. Studio 3807 is slated to open in Spring, 2018 and will include 147 market rate apartments, 6300 square feet of retail space and 3000 square feet set aside for artist studios. The building will also house a gallery displaying a permanent collection of art purchased by Landex from Gateway Arts District artists.
Referencing the two projects, County Executive Rushern L. Baker said, “We have two market rate developments within blocks of each other which will exceed $60 million in development cost and create over 250 construction jobs in the Gateway Arts District. These are the types of projects that fuel the economic engine in Prince George’s County.”
“We are thrilled to be continuing our investment in the Gateway Arts District,” said Peter Siegel, CEO Landex Development. “This is an amazing opportunity to help a vibrant area continue to grow and prosper while also supporting local art and artisans.”
The Gateway Arts District was established by the Prince George's County government in 2001 as an Arts and Entertainment District to use the arts to promote economic development. The Gateway Arts District is a focal point for art activities of all types, as well as for socializing, entertaining, dining, shopping, and living. It offers the richness and diversity of the metropolitan region, but retains at its core the heart of the four small towns: Mount Rainier, Brentwood, North Brentwood, and Hyattsville. Spanning two miles along Route 1 Baltimore/Rhode Island Avenue, with quick access to the MARC, two Green Line stations, and several bus lines to Mount Rainier, the Gateway Arts District is the perfect home for artists, art-lovers, families, commuting professionals, and students. The rich artistic diversity of the area results in a variety of restaurants, coffee houses, local and regional theatres, galleries and entertainment, as well as arts-related businesses such as arts and crafts stores, designers, and art supply stores that support and extend the influence and economic vitality of the artists' community.
Landex Development is a family-owned real estate development company founded in 1983 and specializing in the formation of public/private partnerships for the acquisition, rehabilitation, and new construction of market rate, mixed-income, and affordable multi-family housing communities in urban settings, including in Maryland, Florida, Massachusetts, Pennsylvania, Missouri, North Carolina, New Jersey, Utah, Virginia, Washington, and the District of Columbia. The firm has developed and operated over 7,500 high-quality, well-constructed, and well managed multi-family housing apartments for lease.
Subscribe for News
Join Professionals on EB5Projects.com →
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.