Friday, February 16, 2007

NCRC, AWC Complete Land Swap; Development to Move Forward


After two years of legal wrangling and waiting, the land swap between the National Capital Revitalization Corp. (NCRC) and the Anacostia Waterfront Corp. (AWC) is finally expected to happen this month, paving the way for development at both the Southwest waterfront site along the Washington Channel and the McMillan Reservoir site in along North Capitol Street. The AWC can now move forward with its $800 million project to develop the 47 acres along the Southwest waterfront into "maritime-themed" housing and retail (pictured). The AWC awarded this project to the DC-based venture of PN Hoffman and Struever Brothers Eccles & Rouse last Fall. Meanwhile, the NCRC can now focus on plans for the 25-acre former McMillan sand filtration property, located just north of the US Capitol. In October, the NCRC announced that 5 development teams responded to its solicitation for development of Phase I of the McMillan site along, with the respondents being Horning Brothers, Republic Land Development, KSI Services, Inc., EYA and EastBanc, Inc. Original plans incorporated massive mixed-use development, including 1200 residential units, with affordable housing, 100,000 sf of retail, a community center and "cultural center." No timeline has been set for choosing the developer.

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