Monday, June 28, 2010

GW Site Wrapping Up

Thanks to a recent topping out, Square 54 now dominates the corner of Washington Circle nearest the Foggy Bottom Metro. A little more than two years after breaking ground, Boston Properties and general contractor Clark Construction are well underway building and filling the new mixed-use campus. Gossip about tenants includes a Whole Foods filling a large portion of the retail, though the only officially announced leases belong to law firm Hunton & Williams, NIH Federal Credit Union and lunch time favorite Devon & Blakely.

Square 54 will bring 335 rental units, 440,000 s.f. of office space, an open central courtyard and retail plaza on I Street, over 80,000 s.f. of retail space (including the mystery supermarket), and over 1,000 underground parking spaces. The project is a partnership between Boston Properties and George Washington University, which owns the 2.6-acre site. The site was formerly part of GW Hospital; Boston has a 60-year ground lease on the land.

The residential portion will include 292 market-rate rental units and 43 units set aside for affordable and work-force housing. According to the developers, the residential portion of the project will deliver in May 2011 and begin leasing in January or February of that year. Residents will have access to approximately 250 parking spaces and at least three car-sharing spaces will be available for resident use.

The commercial/retail building will deliver in March 2011, according to Richard Ellis, a Project Manager for Boston Properties."All of the retail space is currently accounted for," according to Ellis. Ellis's calculations generously include the 15,000 s.f. under lease negotiations with a potential grocer, though he declined to comment on the Whole Foods rumors. Hunton & Williams signed on for 190,000 s.f. of office space in the commercial building and according to Jake Stroman, a Senior Project Manager at Boston Properties, the total leased office space and space under lease negotiation is 315,000 s.f., leaving 125,000 s.f. of office space up for grabs.

The project was designed by Connecticut-based Pelli Clarke Pelli Architects, LLP and Sasaki and Associates, the architect of record was Hickok Cole; Boston recently hired design team Carlyn and Company Interior Design to work on the residential interiors.

Washington, DC real estate development news


NikolasM said...

So is there going to be any classroom space for GWU in it? I thought at one point (ages ago) the School of Public Health was moving here.

Anonymous said...

GW issued an RFP for the School of Public Health within the past 2 years for a site on the west side of the hospital. No idea where that stands...

Anonymous said...

1000 parking spaces. Amazing. Easily walkable to a metro station and yet the development world and its urban regulators still think you can't put up a building without prostration to the almighty car.

Anonymous said...

The 1,000 parking spaces are so that the University can tear down its above-ground parking garage. This parking is to replace existing spaces, not add more.

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