Friday, October 07, 2011

Southwest Waterfront's Wharf Waved Forward by NCPC

Wharf DC, Matthew Steenhoek, southwest DC real estate, retail for lease, commercial property, JBG Madison Marquette
Yesterday, the National Capital Planning Commission waved forward the First Stage PUD of PN Hoffman and Madison Marquette's $2-billion development of the Southwest waterfront known as "The Wharf". The vote to "comment favorably" was raised before Matthew Steenhoek, development manager for PN Hoffman, even had the chance to make a final remark. NCPC commission members noted that the PUD honors NCPC's request from November 2010 to "strengthen the physical and visual connections to the Banneker Overlook." Subsequently, Market Square (below Banneker) was expanded, and the opening between two residential towers at the end of 10th Street was widened. 
Wharf DC, Matthew Steenhoek, southwest DC real estate, retail for lease, commercial property, JBG Madison Marquette

A pedestrian connection from Banneker Overlook to Maine Avenue was also added into the plan, which will be included in phase two of development. The Zoning Commission reviewed the First Stage PUD and related map amendment in mid-September, and may take final action this month, after which the development team can submit the Second Stage PUD, which will detail design and architecture specifics, whereas the First Stage deals with building massing, land uses, open space development, waterfront development/improvement and related map amendment. Hoffman-Madison hopes to submit the Second Stage early next year, in order to begin construction on the first phase (of three) in the first quarter of 2013. Of the 3.2 million s.f. to be developed on land abutting the northeastern shore of the Washington Channel, the first phase of construction will be on the middle four parcels ( 2 through 5) which constitutes 40 percent of the entire development. Parcel 3 will be the location of Carr Hospitality and InterContinental Hotels Group's four-star, 268-room hotel. And, according to Steenhoek, the JBG Companies will operate two hotels - a limited service and an extended stay - at parcel 5. Parcel 2 will be two residential towers above a 4,000-seat multi-purpose theater. 
DC Wharf, Washington DC commercial property, retail for lease

All of the buildings include ground floor retail. A significant aspect of the entire development is the creation of Wharf street, a main avenue along the waterfront for cafes, cars, pedestrians, pier access, bikes and even streetcars. The Wharf will be a privately owned street and will overtake the existing Water Street, the closure of which was approved by the Council in April, and currently awaits approval by Congress. 

Washington D.C. retail and commercial real estate news


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