Waterfront Station- Fenty Makes it Official

If no development in DC is official until the Mayor appears for a photo op and a speech, then Waterfront Station became official yesterday.

On the other hand, 1,600 of his employees have been on site since March, when the initial office buildings opened, and have been enjoying the newly opened Safeway. The Safeway closed its old store in March and reopened its "urban concept" store April 16th; the grocery store opening was quickly followed by last month's opening of the newly reconnected 4th Street. The new 4th Street not only creates the new “Main Street” of Waterfront Station, but also a new connecting artery for Southwest.

Two new office buildings flanking 4th Street each now offer 250,000 s.f. of space above the Metro. Development team Forest City Washington, Vornado/Charles E. Smith and Bresler and Reiner, Inc., must have been pleased to have Mayor Fenty on hand, knowing that the DC government has leased 100% of the office space for this phase of the project, a detail that made construction financing a whole lot easier. The building was designed by Shalom Baranes & Associates to achieve LEED certification, though not yet official the green certification is in the works.

To date 88 percent of retail has been leased, with CVS opening in a month and a Z Burger set to open this fall. When Station 4, from owners of Ulah Bistro, opens in the fall it will be the only after-hours restaurant in SW not on the Waterfront.


Washington, DC real estate development news

Vornado Hits Crystal City Again

Sticking with their strengths, Vornado/Charles E. Smith is recycling an old 13-story office building, turning it into a 19-story - you guessed it - "luxury tower" at 220 20th Street in Crystal City. Designed by global firms HOK Architecture and Dorsky Hodgson & Partners, 220 Twentieth Street will be a 270,000 s.f. mixed-use tower that will include 265 luxury rental apartments and 1,600 s.f. retail space at its completion in mid 2009. The developers will recycle the concrete structure of the old building while adding six floors, rebuilding the façade, systems, and interior space. “We’re thrilled to bring 220 20th Street to market. We believe this new sustainably-designed residential project will bring a sparkling new level of quality and visibility to the new Crystal City,” said Richard Smith, Senior Vice President of Development. Two blocks from the Crystal City Metro, developers say the project will be LEED Certified for such features as its water efficient landscaping, bike storage, and use of recycled material during construction, and that from the rooftop pool deck it will boast panoramic views of the planes touching down at Reagan National Airport, the not-too-distant District, and surrounding clusters of the vertical, but newly-walkable, neighborhood of Crystal City.The developers intention for the project was to bring more residents to Crystal City and “set a design standard” for the area. Modest goals, perhaps, but here's to hoping they succeed...

Arlington Virginia commercial real estate news

Crystal City Office-to-Residential Conversion Expected to Start this Spring

Feeling the residential boom immediately to its south along Route 1 down to Alexandria, and finding itself with plenty of suddenly empty office space due to the US government’s recent base realignment and closure measures, Crystal City is making big strides to transform itself into a more residential-friendly neighborhood. First up is Charles E. Smith Commercial Realty’s plan to gut and convert Crystal Plaza 2, located at 220 20th Street S., from almost 200,000 sf of office space to mixed-use residential. The company expects to start the conversion this Spring, with a target completion date of Spring 2008. Crystal Plaza 2 was once home of the US Patent and Trademark Office, before the agency moved to Alexandria in 2005. According to Arlington County records, Crystal Plaza 2 was approved last September for 266 residential units (including six additional floors on top of the existing structure), plus 29,000 sf of retail space. The building will also be re-skinned with new glass and metal. No final decision has been made yet on whether the units will be rentals or condos.