Groundbreaking Signals Fresh New Hope For Hyattsville and Prince George's County

BELTSVILLE, Md., Sept. 25, 2012 /PRNewswire/ -- Grady Management, Inc., a full service, residential and commercial real estate consulting firm, has broken ground on a new luxury apartment building in Hyattsville, MD.  Situated along Toledo Terrace, the mid-rise multifamily building will feature 283 apartment homes.  Named 3350 at Alterra, the residential project is the first phase of a mixed-use planned redevelopment.

(Photo: http://photos.prnewswire.com/prnh/20120925/NE80252 )

Prince George's County Executive, Rushern L. Baker, County Councilman, Will Campos, and Hyattsville Mayor, Marc Tartaro, were in attendance to help Grady Management break ground on the property.  Several members of local government and other community members attended.  Those who addressed the crowd echoed the same theme – it's a new day for this corner of Prince George's County.  They reflected on the historic nature of the moment and how members of local government, land owners, developers and neighbors have come together to offer fresh new residential options in Alterra.

"This is not just another redevelopment project, this is a legacy project," said Jonathan Genn, Executive Vice President and General Counsel for Contee Company, LLP.  He believes the redevelopment project is one that belongs to all those who have been working to enhance quality of living in the area, including government officials, neighbors and partners.  "So we are beginning construction on [a project that] we know will be our joint and collective legacy," he continued.

Executive for Prince George's County, Rushern L. Baker, III agrees.  "For us, this is a great day.  This fits into our vision of transforming neighborhoods in Prince George's County," he said. 

Steps from the Prince George's Plaza Metro, these new multi-family apartments will have much to offer the community in its features and amenities.  The property will include studio, one, two and three-bedroom apartments, a cyber cafe, a lounge, game room, pool and a fitness center. Alterra will also offer garage parking as well as bike storage for its residents, so that they may enjoy the vibrant energy of the neighborhood and the walking and biking that is already a part of its culture. 

Grady Management, Inc. (GMI) is a full service, residential, commercial and real estate consulting firm, which oversees millions of dollars worth of income-producing property throughout Virginia and Maryland.  For more information on Grady Management, go to http://www.gradymgt.com/.

Merrick Towle Communications is an integrated marketing communications firm that specializes in the real estate and energy arenas. 

SOURCE Grady Management, Inc.