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College Park releases annual economic-development report highlighting rising visitorship, new restaurants and concerns about federal layoffs
Summary
City economic development staff reported record visitorship and rising retail sales in 2024, detailed business‑assistance grants and new openings, and flagged potential local impacts from federal workforce reductions affecting more than 1,100 city residents.
City economic development manager Michael Williams presented College Park’s annual economic development report March 18, telling the council the city saw higher visitorship, brisk residential and commercial sales and continued restaurant openings in 2024 — while flagging risks tied to federal layoffs that may affect hundreds of local residents.
Williams said staff analytics tracked nearly 3 million visits within the city boundaries year-over-year (February 2024–February 2025) and reported retail sales above $360 million for calendar 2024 at monitored locations. He cited the Big Ten athletic calendar and the new Cambria Hotel and food-and-beverage openings — including Prime Time at the Cambria Hotel, Honey Pig Barbecue and a Shake Shack — as drivers of foot traffic and hospitality demand.
Williams highlighted local business support efforts, such as a $75,000 PNC Bank Foundation grant directed to businesses affected by Purple Line construction, a Department of Housing and Community Development award of $300,000 to help fill vacancies in retail corridors, and a round of Purple Line small-business grants in which city staff helped several applicants. Williams noted the city continued to work with partners including the Latino Economic Development Center and the Washington Area Community Investment Fund on small-business supports and training.
On housing, Williams said The Flats, a 315-unit development financed in part with state tax credits in District 1, would begin accepting applications this spring for income‑restricted 1–3 bedroom units. He also said the city is actively seeking sites and partners for additional senior and affordable housing, and mentioned several recent commercial real-estate transactions, including sale or pending sale of multiple lots at the Stone Straw site and the Moose Lodge property’s transfer chain that will result in a new buyer taking possession in June 2025.
Williams acknowledged headwinds: he and other staff noted the Office of Management and Budget and Department of Commerce data indicating more than 1,100 College Park residents hold full‑time federal jobs and said federal workforce reductions could ripple through the local economy.
Councilmembers commended staff work and asked follow-up questions about specific properties, the county’s role in right-of-first-refusal reviews, and options to steer amenity and affordable-housing development across the city. Williams said staff will continue outreach to owners and developers and that slides from the presentation will be posted with meeting materials.
Provenance: Williams delivered the staff report and council members asked questions during the March 18 meeting.
