Developer plots 430 apartments, retail on 5-acre...

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The Washington Metropolitan Area Transit Authority has selected a Providence, R.I.-based developer to transform a surface parking lot by the College Park Metro station into a 400-plus unit apartment project. The WMATA board on Thursday is expected to approve a motion to negotiate and execute a term sheet with Gilbane Development Co., the firm chosen over three other bidders to develop the lot sandwiched between the Metro tracks and River Road. Gilbane’s specific proposal calls for 430 units over…