A major development, with offices, retail and housing, is expected at the New Carrollton Metro station.

In a joint development deal with Metro, Forest City Washington and Urban Atlantic will build on 39 acres Metro owns near the stop. The project is expected to include 2 million to 4 million square feet of space and is estimated to be worth $1 billion, according to Metro.

In a statement, Metro General Manager Richard Sarles said the project would be on a fast track to construction.

He said it would also help to improve “mobility and connecting communities at New Carrollton” and increase “financial stability through better utilization of our assets.”

Urban Atlantic did a joint redevelopment deal with Metro at the Rhode Island Avenue stop. It included about 200 apartments and 70,000 square feet of retail space.