Q&A: Metro real estate official says New Carrollton provides hot development opportunity

September 6th | Washington Post

Steven Goldin says transit-oriented development in the Washington area is "further ahead than anywhere else in the country" and yet he is remaking the real estate department of the Washington Metropolitan Transit Authority. A year after becoming head of Metro real estate, the self-described "TOD geek" is juggling half a dozen distressed deals he inherited and initiating his first new one: a search for developers interested in 40 acres of Metro and state-owned land in New Carrollton.

Many people view your office as understaffed or underfinanced or unable to respond to opportunities.

It's all of those things, but you know you can approach things in life and sit around and cry and feel sorry for yourself and whine about it, or you can say, "These are the resources I have and we're going to take these resources and prioritize the opportunities and, just as importantly, we're going to say no to certain things," and that's something that hasn't happened here in the past. This first year has really been all about looking at what the assets are, both human and capital, looking at what the opportunities are.

You are a former developer. What are the hottest properties in the Metro portfolio?

New Carrollton. That's why we're taking that to market first. New Carrollton is, we believe, the premiere development opportunity in the United States. Not only the premiere TOD development opportunity, the premiere opportunity. You've got an Amtrak stop, a Metro stop, a MARC stop. The GSA [General Services Administration] already has a huge footprint out there with the IRS building, so obviously it's a location that the GSA knows and is comfortable with. And you've got a jurisdictional government that wants to see development there. So we expect a national response.

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