Metro has announced that it finalized an agreement with a developer on an apartment and retail complex at the College Park Metro station.

Gilbane Development will construct 440 apartments and retail around the station, with a one-acre “village green” and improved access for bikes and pedestrians.

The project is part of the University of Maryland’s Discovery District, which is included in a $2 billion revitalization plan for the entire Route 1 corridor in College Park.

Gilbane said the project will feature 11,884 square feet of retail, 23 two-story townhome units, 27 live-work loft units in addition to the apartments. Metro began negotiating with Gilbane on a development agreement in 2016.

The development will result in the elimination of the 530-space parking lot at the station. The existing 1,290-space parking garage, built in 2005, will remain.

College Park is the second stop in on Metro’s Green Line, and a future stop of the Purple Line.