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Community
Benefits
The Hoffman - Madison Marquette team has the magnificent
opportunity to transform an underutilized section of
the District and recreate the Wharf
as a new world class destination. Our vision is to
create vital, thriving, activated spaces catering to
visitors and residents alike. We envision active
public spaces for outdoor
activities, a clean and healthy river bustling with
marine traffic, abundant retail catering to and
fulfilling lifestyle needs, and great cultural and
education landmarks. The benefits to the city of
Washington are endless; here are some of the
highlights:
Affordable Housing
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30% units of affordable
housing |
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50% affordable to households of 60% median income or less |
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50% affordable to households of 30% median income or less |
LSDBE Participation
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20% LSDBE beneficial
ownership of the Master Development entity |
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35% of all goods and services to be acquired
from CBE sources with preferences given to
Wards 5, 6, 7, and 8 |
First Source Hiring / Workforce
Development
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1,000 new permanent service jobs
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650-1,000 construction jobs
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51% of new jobs created by the project to be filled by District residents |
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30% of construction apprenticeship
opportunities for DC residents residing east of the Anacostia River |
Sustainable Construction
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1st LEED-Silver
mixed-use project in the District - LEED-Gold Neighborhood
Development pilot project |
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National model
for waterfront development best practices |
Tax Revenue
$40 million annually in taxes generated
for the District, including:
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Real estate taxes |
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Sales taxes |
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Hotel taxes |
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Income taxes from new
residential units |
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Additional corporate, use,
parking, transfer, and deed recordation taxes |
First DC neighborhood on the
waterfront
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Complementary development to The Yards,
Baseball District and the Waterfront Station |
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A unique destination that will appeal to
residents and tourists alike |
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