Ascend at Apollo Phase 4

Available for Sale

Ascend at Apollo Phase 4 presents an exceptional opportunity to develop 4.73 acres within the rapidly transforming Largo submarket. Zoned RTO-H-E (Regional Transit-Oriented, High Intensity Edge), the site offers significant flexibility for a broad range of residential, commercial, institutional, and educational uses, including multifamily development at densities of up to 175 units per acre.

The site benefits from its position within the Largo Transit-Oriented Development Overlay District, one of Prince George's County's designated priority growth areas. Recent initiatives aim to expedite development near Metro stations. Additionally, development within the overlay district may be eligible for substantially reduced public facility surcharge fees compared to other projects. Further enhancing its investment appeal, Phase 4 is located within a Tax Increment Financing (TIF) District, a Maryland Priority Funding Area (PFA), and a federally-designated Opportunity Zone. Originally, the property was Phase 4 of the master-planned Ascend Apollo development, a 20-acre mixed-use project approved in 2015 for 1,566 multifamily units and 40,000 SF of commercial. The first two phases, comprising 846 apartment units, were successfully developed as Ascend Apollo and Opal. Phases 3 and 4 subsequently received approvals for an additional 716 units. In 2021, the Maryland-National Capital Park and Planning Commission (M-NCPPC) acquired approx. three acres in Phase 3 as part of its planned headquarters relocation. M-NCPPC ultimately acquired an existing office campus elsewhere in Largo. Phase 4, the subject property, can be developed with a variety of commercial uses that are permitted under the RTO-H-E zone, including multifamily projects up to 175 units per acre and a variety of commercial, educational and institutional uses.

Available for Lease

Ascend at Apollo Phase 4 presents an exceptional opportunity to develop 4.73 acres within the heart of the rapidly transforming Largo submarket. Zoned RTO-H-E (Regional Transit-Oriented, High Intensity Edge), the site offers significant flexibility for a broad range of residential, commercial, institutional, and educational uses, including multifamily development at densities of up to 175 units per acre.

The site benefits from its position within the Largo Transit-Oriented Development Overlay District, one of Prince George's County's designated priority growth areas. Recent initiatives aim to expedite and incentivize development near Metro stations. Additionally, development within the overlay district may be eligible for substantially reduced public facility surcharge fees compared to comparable projects located outside designated transit-oriented areas, creating meaningful cost advantages for future development. Further enhancing its investment appeal, Phase 4 is located within a Tax Increment Financing (TIF) District, a Maryland Priority Funding Area (PFA), and a federally designated Opportunity Zone. Water and sewer service are immediately available, utilities are in place, and the site is not impacted by the 100-year floodplain. Originally, the property was Phase 4 of the master-planned Ascend Apollo development, a 20-acre mixed-use project approved in 2015 for 1,566 multifamily units and 40,000 square feet of commercial space. The first two phases, comprising 846 apartment units, were successfully developed and are now known as Ascend Apollo and The Opal Apartments. Phases 3 and 4 subsequently received approvals for an additional 716 multifamily units. In 2021, the Maryland-National Capital Park and Planning Commission (M-NCPPC) acquired approximately three acres in Phase 3 as part of its planned headquarters relocation. M-NCPPC ultimately acquired an existing office campus elsewhere in Largo