Entitled by the LDA to “master developer” status, Hoffman-Struever will now be allowed to name, design and develop the $1.8 billion (including $198 million in publicly financed assets) project with little government direction. Deputy Mayor Albert, via a press release issued by PN Hoffman, described the project as “a true public-private partnership.”
The same statement outlined the developer’s intentions to make the site a “world class mixed-use waterfront destination” with public parks, three hotels, a Maritime Center, commercial office space, retail outlets, and more than 700 housing units. Hoffman envisions the site as serving as the missing link between the Baseball District and "revitalized M Street corridor" and the National Mall. In all, the project will encompass 26 acres of land and another 25 of marina area.
Still, any construction at the site is years off. The LDA is essentially the developer's contract to purchase; the city will not be able to transfer the massive parcel to Hoffman-Struever until 2011, at the earliest. The City Council must still vote on the LDA, which will get its first vetting at hearings on October 6th before the Committee on Economic Development. The Mayor's office expects a vote on the subject by November. Ehrenkrantz, Eckstut & Kuhn was named the master architect in June of last year, officially making the team - officially comprised of PN Hoffman, Struever Bros. Eccles & Rouse, McCormack Baron Salazar, ER Bacon, Acresh, Gotham, City Partners and Triden - the most unpronouncable development team on the east coast.