Thursday, June 15, 2006

DC Waterfront Redevelopment Sails Forward – Five Developers Contend for Project

The Washington Business Journal is reporting that on June 13, the Anacostia Waterfront Corporation (AWC) trimmed its initial list of 17 developers vying for the right to redevelop the 47-acre Southwest waterfront to just five teams. Four of the teams are led by Washington-area developers, with the last team hailing from Chicago. The teams are: EastBanc-LNR Waterfront Partners; Madison Marquette and KSI Services and Waterfront Partners; SW Waterfront LLC (headed by JBG); PN Hoffman and Struever Brothers Eccles & Rouse; and the John Buck Co. of Chicago. The five teams were selected for their experience with public/private large-scale, mixed-use projects. The AWC expects to select a final team by the end of this summer to fulfill its dream of a gleaming new $500 million waterfront full of "maritime-themed" housing and retail. Considering how the Southwest waterfront is now blocked by rows of big-boxed restaurants of middling quality, the AWC plan is a welcome development that will embrace DC’s impressive waterfront.



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