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Mayor Adrian Fenty to Announce Deal for $1.1 Billion Southwest
Waterfront Development Project led by Hoffman-Struever LLC
PN Hoffman
January 15, 2007
Washington DC – Mayor Adrian Fenty announced today the introduction
of legislation to enable the District’s public financing and a land
disposition to a development team led by PN Hoffman and Struever
Brothers, Eccles & Rouse. The Hoffman-Struever Team will lead the
transformation of the 23-acre site into a 2 million plus square foot
world-class waterfront destination that will reconnect the District
to the waterfront and attract local, regional, and international
visitors. The project will be an anchor to the revitalization of the
M Street corridor connecting southeast and southwest Washington.
The developer’s plan aims to produce an active, urban riverfront and
park system, showcase distinctive cultural destinations, and build
upon the existing, strong waterfront community. It features the
following components:
-
Housing –
approximately 770 residential units with 30%
being affordable housing.
-
Cultural – a 150,000
square foot cultural component focused on
education and the District’s maritime history
-
Hotel – 675 hotel
rooms
-
Office – 700,000
square feet of office
-
Neighborhood amenities
– neighborhood-serving retail such as a
gourmet grocery, casual and upscale dining,
cafes, jazz venues, shops and opportunities for
local, small retailers.
-
Parks – Acres of
quality public parks, open space, and waterfront
promenades throughout the project
-
Water-focused development
– significant improvements to the existing
marina and pier facilities, water taxis and
public piers
-
Sustainable Design –
the first LEED-Silver certified mixed-use
project in the city and a LEED-ND Pilot Project
-
Significant local, small
and disadvantages business enterprises (LSDBE)
– participation by Washington, DC-based LSDBE
team members in all aspects of the project,
including ownership and development
City Pier District: The northwest end of the site will be the
more active district of the development, due to its proximity to the
National Mall, L’Enfant Plaza and the active historic fish market.
It will contain the majority of the restaurant and retail uses and
is the location of much of the project’s office component.
Additional features may include a fresh produce market to enhance
the existing fish market, a large City Pier to provide a location
for waterfront celebrations and tall ship events, a water taxi
service connecting the Southwest Waterfront with the new baseball
stadium, Old Town Alexandria, Georgetown, the airport and other
destinations, a performance space for cultural use, and a pedestrian
bridge at 10th Street, linking the site to the National Mall.
Wharf Street District: The central core of the project
features a substantial amount of hotels including luxury, extended
stay, and limited service hotels. The Wharf Street will have a
pedestrian oriented waterside promenade with restaurants and retails
lining the street. The new seawall and piers will improve pedestrian
access to the water.
Cultural Park District: The southeastern end of the project,
closest to existing neighborhoods, is the least intense development
area. This area will feature residential buildings, office space,
and neighborhood-serving retail such as a gourmet grocery, small
neighborhood bistros and waterfront cafes. The cultural park itself
is a multi-acre green park that will be the centerpiece of the
cultural zone. Cultural uses will feature educational opportunities
at the water, such as programs by Living Classrooms Foundation and
the National Maritime Heritage Foundation.
“Over the past two years we’ve studied waterfronts all over the
world, reached out and forged working relationships and agreements
with existing leaseholders, and conducted over 100 meetings with
regulatory agencies and surrounding stake holders,” said Monty
Hoffman, CEO of PN Hoffman. “This is just the beginning of the
process to create a ‘world class’ waterfront. We will continue to
work with the mayor’s office on making a waterfront that draws
visitors from everywhere, but our first commitment is to the people
of Washington, DC. The Potomac River is our greatest natural
resource and first and foremost, this project will reconnect
Washington with its waterfront. We look forward to working with the
City Council to achieve passage of the Mayor's legislative proposal
so that District residents can see a shovel in the ground by 2010.”
The announcement was made on January 15, 2008 at 9:15 A.M. aboard
The Odyssey, located at 600 Water Street, SW.
About PN Hoffman
Since 1993, PN Hoffman has been developing extraordinary upscale
residential, retail and mixed-use properties in the Washington, DC
Metro area. The company is deeply committed to serving the
neighborhoods of Washington and has built over 35 developments in
the City since its inception.
About Struever Brothers, Eccles & Rouse
Established in 1974, Struever Brothers, Eccles & Rouse has a
long-standing and prestigious record of success as a unique
development company. Known for conquering challenging locations as a
multi-role developer and construction manager, the firm has an
intentional focus on urban mixed-use projects, neighborhood
transformation, historic adaptive reuse and reinvigorating city
waterfronts. With more than 16 million square feet and nearly $5
billion of total investment costs in projects completed or under
development, Struever Brothers, Eccles & Rouse is a uniquely
diversified, full-service real estate development and construction
company.
Media Contacts:
Alanna Deal, PN Hoffman
202.686.0010 x 253
adeal@pnhoffman.com
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