“The Skyland project is definitely gaining momentum, and the Mayor has made this a priority,” said Sheryl Simeck, Vice President of Marketing and Communications at Rappaport. “But it is still too early in the process for us to be able to supply construction dates," (despite Mayor Gray's prediction it would break ground last year.) "The District continues to work on resolving the outstanding legal issues involving eminent domain. Development cannot start until these last few issues are resolved.” At this time, no one is prepared to say when that will be.
Monday, January 16, 2012
Skyland Struggles Towards Uncertain Timeline
Labels: Rappaport, Skyland, Southeast, Walmart
“The Skyland project is definitely gaining momentum, and the Mayor has made this a priority,” said Sheryl Simeck, Vice President of Marketing and Communications at Rappaport. “But it is still too early in the process for us to be able to supply construction dates," (despite Mayor Gray's prediction it would break ground last year.) "The District continues to work on resolving the outstanding legal issues involving eminent domain. Development cannot start until these last few issues are resolved.” At this time, no one is prepared to say when that will be.
Wednesday, March 19, 2008
District Announces Developer Submissions for Mt. Vernon
Labels: Downtown DC, Mt. Vernon Triangle, Neighborhood Development Company, Shalom Baranes
The District received proposals from Buccini/Pollin Group; Clark Realty Capital (which recently won the Poplar Point bid); Donohoe Development Co and Holland Development Group; JBG Cos.; MVT Associates, LLC; NDC-Jarvis; and Potomac Investment Properties, Inc.
"This is really one of the last sites left in the Mount Vernon Triangle," Albert said, speaking of the lot that will almost certainly have competition nearby, as several developments have been announced in the immediate vicinity. "This neighborhood has basically sprung up overnight and this site presents a great opportunity to add some dynamic uses to better serve the existing community and the new mix of office, retail and housing." The site will have the advantage of high visibility on Massachusetts Avenue, making it a dream at least for the marketers.
Proposals for the site include high-end retail such as hotels, restaurants, cafes, fitness clubs, spas and live entertainment venues. Some also included a residential aspect with apartments and condominiums (didn't they get the word that no one would finance condos?), which would include 30% affordable housing, according to the District's rules. Each plan featured underground parking with 100-plus spaces.
NDC-Jarvis proposed building a luxury boutique hotel connected to upscale condominiums (see rendering below), with the pair sharing concierge services and amenities. Proposed retail included a small home furnishings store, an upscale restaurant to serve the hotel and neighborhood. A small jazz performance venue would also be on the site.
Robert Holland of Holland Development Group, co-developer with Donohoe Development Co., said their design would include a Shalom Baranes-designed hotel. "As far as I know, many of the developers were proposing hotel/apartments, a mixed-use development, with some local neighborhood retail," Holland said. "Our difference is that we have identified a Spanish hotel chain to go in there, along with a 10,000-s.f. restaurant jazz venue. It's a London-based established jazz club, not a big commercial destination jazz club, but more local, with very excellent food. It should be a great a compliment to the neighborhood."
Mount Vernon Triangle spans 15 blocks over 30 acres, and already includes more than four million square feet of development, such as CityVista, which is well into the back nine of its 441-unit condo project next door.
The Office of the Deputy Mayor for Planning and Economic Development will study the proposals over the next few weeks and will schedule a public meeting for the community to hear presentations from each of the development teams.
Washington DC real estate development news
Thursday, June 19, 2008
Industry Insight: Neil Albert on DC Development
Friday, November 14, 2008
DC Lauds SE Development
Labels: Anacostia River, Diamond Teague, Fenty, Hill East, Navy Yard, Poplar Point, Southeast
"A lot has happened in just over a year since the Anacostia Waterfront Corporation was dissolved into the rest of the government," said Fenty. "I think, from my perch, that there's probably even more decision-making, fast action and decisiveness by having the Council and Executive Branch in charge - with no fault going down on the input of the community and making sure we follow the original plan."
Fenty also gave a brief rundown of the $8 billion worth of development, infrastructure and community projects targeted at reinvigorating the city’s waterfront: Poplar Point ($2.5 billion), the Southwest Waterfront ($198 million in TIF/PILOT funds), Hill East ($1.4 billion), Park at the Yards ($42 million), Marvin Gaye Park ($7.7 million), Canal Park Development Corp.’s as-yet unnamed Ballpark District park ($13.1 million), the South Capitol streetcar line ($30 million), the 11th Street Bridge project ($260 million), the Anacostia Riverwalk Trail System ($50 million), Diamond Teague Park ($16 million), the St. Elizabeths plan (as-of-yet unbudgeted) and various community initiatives such as the Green Summer Job Corps, an online water quality monitoring system, a new stormwater rate structure and the Anacostia 2032 plan – which seeks to make the polluted river “boatable, swimmable and fishable in 25 years.”
“I’ll tell you what’s going to happen along the Waterfront in the decades and years and months and days to come,” said George Hawkins, Director of the District Department of the Environment. “We will have a cleaner river. We will have a better environment…At the same time, we are going to bring almost unparalleled economic vitality and jobs to this city.”
With regards to the economy, Mayor Fenty presented an optimistic view of the impact the fiscal crisis is having on projects heading down the development pipeline. “The national economy, as everyone is aware, is having an extremely hard time. The District of Columbia is not immune from that, of course, but there is a certain degree of insulation and there’s a large degree of momentum, which is allowing a lot of projects…to continue to go forward,” said Fenty.
Deputy Mayor for Planning and Economic Development, Neil Albert, followed up Fenty’s remarks by characterizing developers with stakes in Southeast projects as “still very bullish,” despite a dearth of client interest in the commercial real estate market. “While some of the surrounding areas are having difficulty leasing space, they're still leasing space here in the District,” said Albert.
Interested citizens will have to chance to examine the marketplace for themselves this coming Saturday, November 15th, as the District hosts a “Community Education Fair” at Nationals Park. Several District agencies, local developers, community groups, and local not-for-profit organizations will lead bus tours to the site of upcoming projects and panels on the Southeast redevelopment. For more information, visit the District’s website.
Monday, May 12, 2008
DC Announces New Convention Center Site Agreement
Labels: Archstone, Chinatown, Convention Center, Hines, Jack Evans, Mayor Adrian Fenty
(Dcmud's information on "Parcel B" is too new to have renderings - the rendering shown is of the southern parcel.)
Standing in a corner of the current Convention Center, overlooking the site of the old one, Fenty said the District reached a deal with developers Hines Archstone to lease the site for 99 years. The District had previously cemented a deal with Hines Archstone for the southern half of the site - a project estimated at $850 million that will add 350,000 s.f. of retail space, over 670 apartment and condominiums with at least 134 affordable units, and 465,000 s.f. of office space between New York Avenue, 11th, H, and 9th Streets NW.
“The one thing the District is missing that so many other large cities have is a bustling area where people come after work to shop or eat or to hang out, a city center.” Fenty said. In addition to the office, retail, and residential space, the project will include an additional 1.5 acres of public open space. There will be a park in the northwest corner as well as a central plaza between the residential buildings on the corner of 9th and H streets.
The “B parcel", bound by New York, 9th, and what will be 10th Street, was originally considered as a potential site for a museum or library in order to attract more families. Today, however, Fenty said that while the District is still “working aggressively” with the Library Board, there is a significant amount of programming under the current plan to attract DC residents to the site."
As the master developer, Hines Archstone had the first right of refusal to lease the B parcel from the District if the city chose not to locate a library on the site.
“This area is surrounded by museums; the Newseum just opened a few blocks away, the Portrait Gallery, the Spy Museum…we want this place to provide a social atmosphere outside their homes where residents can come and sit without having to sit at a café or pay to eat or drink,” Fenty said.
Kingdon Gould III acquired a parcel on the Northeast corner of the site - the last site to reveal development plans - in a land swap that the city conducted to facilitate construction of the Marriott next to the new Convention Center. The Parking Management, Inc. president has his own plan for the site, but it must be "consistent with the entire site's master plan."
While retailers have not yet been announced, the developer has committed to devoting thirty percent of retail space to merchants with six or fewer stores in the United States, but will focus on a wide range of grocery stores, restaurants, fashion stores, and entertainment or performance venues. There are also plans for one larger retailer like Nordstroms or Macy’s; Fenty and the development teams will be meeting with companies in the coming weeks, but a final announcement is not likely for about six months.
The project will generate 3,000 development-related jobs and 2,500 direct permanent jobs. It will also generate a projected $32 million a year in annual direct tax revenues. According to developers, the District will receive more than $200 million in consideration for the land as part of the land lease including a minimum of $28.5 million in lease payments, $55 million to provide affordable housing on site, and $48 million in payments for new infrastructure. Two new streets, I and 10th, will be constructed through the site.
When asked about the likelihood of delivering the project in a timely manner given the not-so-exuberant state of the economy, Councilmember Jack Evans, D-Ward 2, said the District has not been affected by the economy and that this project’s success would be no different than that of other D.C. projects like the Nationals Stadium.
“The Southwest waterfront looks pretty good. Poplar Point is off in the distance, but Clark, the main developer hasn’t had problems getting the money they need. There is such a strong interest in the development of the District that as long as that interest remains, these projects will stay on schedule,” Evans said.
The first phase of the project, which includes the office, apartments, and condominiums, will begin in the second quarter of 2009, while the entire project will be completed by the end of 2011.
Evans added that this summer the city is planning to set up a large screen in the parking lot on-site to continually broadcast the Olympic Games. He said the city’s goal is to use the backdrop of the Chinatown arch to attract families and residents to the area.
“This is the most exciting property on the East Coast,” he said.
Thursday, November 16, 2006
Congress Grants Approval to Federal Land Transfer to DC
The gears of legislative process grind forward, and fans of soccer and baseball (and development!) should feel some joy. On November 16, the US Senate approved legislation (the House ok’d it earlier this month) that will transfer dozens of Federal land lots located in the District to the DC government, including title to 100-acre Poplar Point (pictured) across the Anacostia, considered to be the site for DC United’s new soccer stadium and additional development, and smaller properties along Potomac Avenue that will make up part of the new Nationals baseball stadium complex. Also included in the transfer are 66 acres around the old DC General Hospital at Massachusetts Avenue and 19th Street SE that are targeted for a new major development featuring housing, retail, and parks. Besides gaining this land for economic development, it will also bring in needed tax revenue, as the Feds didn’t pay property tax on the lots.