Tuesday, October 03, 2006
After months of keeping the DC construction world waiting with "baited" breathe (sorry, bad puns are our specialty), the Anacostia Waterfront Corporation (AWC) has finally announced the DC-based venture of PN Hoffman and Struever Brothers Eccles & Rouse (that will be fun to pronounce for the next decade) as the winning team for its $800 million project to develop the 47 acres along the Southwest waterfront into "maritime-themed" housing and retail, a space now filled with middling restaurants and empty lots. The PN Hoffman and Struever Brothers Eccles & Rouse team (let's just call them the Hoffbrau team) was selected from an initial list of 17 developers. The AWC will sell exclusive rights to the Hoffbrau Team, which will develop the land while providing business opportunities for small, local disadvantaged companies, generating tax revenue for the city. The 2 million-sf development will include about 900 condos and apartments, 360 hotel rooms, 230,000 sf of retail, 150,000 sf of cultural spaces, plus office space, parks, piers and a waterfront promenade. Some of the residential units will be for moderate- and low-income families. Work is expected to begin in 2009, with completion in 2017.