With all the talk about waterfront development, you would think the best waterfront property in DC was spoken for. That might just depend on who you ask. Real estate development firm Akridge currently holds the keys to a corporate dream home: nine acres of land on the Anacostia waterfront, which can house 2.7 million s.f. of development and more than 1,600 parking spaces by right, not to mention site lines down the Potomac River. And for baseball fans who dream of finishing up a day at the office with a cold beer behind home plate, the Akridge site is only four blocks away from the new Nationals Stadium.
Officially, the site's address is 100 V Street, SW, just within the historic Buzzard Point district. Yet the potential for development is vast; with the possibility of spanning three full city blocks to create a corporate campus that fits nicely within the context of the Fort McNair neighborhood.
“We think it’s ideal for a user that has security needs because there are several natural buffers. The site encompasses three full city blocks with water on one side, Fort McNair on the West and a PEPCO sub-station across First Street SW, it is on a point with little thru traffic, and adjacent occupants also have large campus-like properties,” said Mary Margaret Plumridge, Media Contact for Akridge.
Akridge, which purchased the site in 2005 for $75 million from utility supplier PEPCO, has lovingly maintained its original parking lot appearance, retaining the Field of Dreams look and, Akridge hopes, its promise. The new owners did remove an abandoned oil tank left behind by the previous owners - unfortunately empty.
The development team has decided (for now) to avoid setting a firm design plan in stone. It's what Akridge calls the "ideal build-to-suit" opportunity. Basically, if you like the idea of having your office a stone's throw from the Potomac, or the notion that you could catch a home run from your office courtyard (assuming Bonds is still juicing), this might be the opportunity you seek. And in a reverse Field-of- Dreams-scenario, if someone wants it dearly enough, Hellmuth Obata & Kassabaum will design it for the lucky bidder, at which point Akridge will build.
Because of Akridge’s by-right zoning, the developer is ready and willing to build and is marketing the site to either a “secure user” or for the traditional mixed-use path.
Akridge expects to eventually manage the project that is built, but recognizes that the nature of the user would dictate that possibility.