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Showing posts sorted by date for query the wharf. Sort by relevance Show all posts

Thursday, September 30, 2010

Architects and Developers Roll Out Concepts for Southwest Waterfront

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Last night at the Arena Stage, as the developers from Madison Marquette and PN Hoffman, as well as lead planning architect Stan Eckstut of EE&K, presented their master plan for the redevelopment of the Southwest Waterfront, one thought really stuck: it's going to take a boatload of time, money, and effort to make these ideas reality. The vision was colorful, imaginative, and mostly astounding, with prospects of a world class waterfront with international port-cities like Genoa, Auckland, Baltimore, and Seattle as inspiration. If only they had a plan for how to pay for it or when to build it.

Unfortunately the idea men are real estate developers, not wizards, and it will take more than a PowerPoint presentation to transform the city's Southwest Waterfront. But with no definite time-line given or dedicated financing, developers seem to be turning to the increasingly common fallback of government-sponsored housing. Some of the basic tenets of their master plan were released: 840,000 s.f. of office space, 335,000 s.f. of ground floor retail, several entertainment and cultural features (maritime museum maybe?), three hotels totaling 600 keys, as well as over 500 residential units, fully half of them being set aside for low-income residents at 60% AMI or less - one of the District's lower end income caps for subsidized housing. The presenters also promised that 60% of the 27 acres would be public space, emphasizing their belief that creating buildings is not their primary focus, it's shaping spaces for a 4-season destination for commerce and recreation.
While the development details set for dry land were compelling, developers stressed that their vision really begins and ends with the water itself. Their plan sees the two major yacht clubs significantly expanded, almost doubling their holding capacity to four or five hundred slips. Their concept also stretches several large piers well out into the channel, each plank serving a different purpose. The "City Pier" will extend from 9th Street, welcoming larger cruising vessels with a bandstand of some kind, where the "mayor can welcome visitors" (Greetings, Mr. Putin, how was your boat trip to America?) and pedestrians can enjoy concerts and fireworks. Planners hoped a modern lighthouse-like tower would anchor this pier on land, but admitted developers had not figured out a way to pay for this yet (not to mention the rest of the project). Another pedestrian-heavy and recreational pier will split the waterfront in half, wedged between the two marinas, planners sketched the picture of a small sailing school, kayaks and boat rentals. On the far west side of the waterfront, a wider pier will feature a plethora of dinner boats, stretching the many future dining options out onto the water.
On land, "The Wharf" will be the main pedestrian-centric thoroughfare, taking the right of way from the few vehicles that venture down the water's edge. Wide bike lanes will run along the inner portion of the expansive sidewalks stretching from current Fish Market to M Street. And developers are hoping that by including a streetcar line down the middle of the street, the District will be compelled to get moving on their pledge to make public streetcar transit a reality. Maine Avenue will shoulder most of the vehicular traffic, with District officials having requested the closing of Water Street, and will feature bus drop offs and a 2,500-space below-grade parking garage. Other land-side features include the re-imagining of the fish market as a year-round "Market Square" featuring brew pubs, cafes, restaurants, and picnic areas. On the opposite side, a large open park at P Street will be vehicle-free and less dense, transitioning the development into the neighborhood.

Cicada-like hisses greeted Eckstut's mention of stretching some buildings to a height of 11-stories and 130-feet, but the architect defended such dimensions as allowing wider, more inviting sight lines and access points to the waterfront, massing density vertically in strategic locations to allow a more porous, open waterfront. A more agreeable talking point was his promise that those currently living on boats at Gangplank Marina would not be threatened and expelled by the new plans.

The details of the development are many, and are difficult to bundle into a comprehensive understand via prose, but blog Southwest Quadrant has a solid bullet-pointed rundown of the major features. The entire PUD will be submitted to the Zoning Commission later this fall, with many lively public hearings set for the spring. Phase I construction can't be expected until at least 2012, despite a recent groundbreaking, and construction could take upwards of eight years. And that's a best case scenario. The development team was awarded the project in January of 2008.

Washington D.C. Real Estate Development News

Thursday, January 08, 2009

SW Waterfront Nets its First Casualty

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Hoffman Struever, fish market, wharf southwest, Eccles Rouse, DCJust weeks after the City Council's approval of a Land Disposition Agreement authorizing the Hoffman-Struever, LLC’s redevelopment of the Southwest Waterfront, progress, of a kind, is already being made. The first casualty Hoffman Struever, fish market, wharf southwest, Eccles Rouse, DC retail for leaseof the development process appears to be the Virgo Fish House – a staple restaurant of the famed Maine Avenue Fish Market. Shrimp cocktail enthusiasts shouldn’t fret, however; while the restaurant’s current quarters are scheduled to be demolished in tandem with another abandoned property at the site, the remainder of the Washington landmark at 1100 Maine Avenue, SW, will be safe for the foreseeable future. "The blue building, which formerly operated as a crab house [will be razed],” says Nina Albert, a Project Manager with the Office of the Deputy Mayor for Planning and Economic Development. “That blue building will be replaced with a temporary Fish Cleaning Building, and...the building that Virgo’s is currently operating out of will be demolished. The intent of these small moves is to keep the Fish Market in safe and operable condition until the redevelopment occurs.” That redevelopment by the Hoffman-Struever development team – which is officially comprised of comprised of PN Hoffman, Struever Bros., Eccles & Rouse, McCormack Baron Salazar, ER Bacon, Gotham, City Partners, Triden and the recently added Paramount Development – isn’t expected to begin anytime before 2011, but it’s also worth noting that the Maine Avenue Fish Market was also targeted by 2008’s National Capital Framework Plan. The Plan – drafted by the National Capital Planning Commission - seeks to reintegrate Maine Avenue into the fabric of daily life in the District by refurbishing the Market’s home at the Overlook and linking it with an extension of 10th Street, SW.


Washington DC retail development news

Tuesday, July 15, 2008

District Approves SW Waterfront Bonds

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developers PN Hoffman and Struever Brothers, Eccles & Rouse chosen to develop the Wharf in southwest Washington DCThe District Council today approved a financing project for the 23-acre Southwest Waterfront, providing $198 million in bonds for the waterfront project, a bill that Mayor Adrian Fenty is expected to sign. Under terms of the bill passed unanimously by the the DC Council, the District will issue revenue bonds supported by tax increment financing (TIF), payment in lieu of taxes (PILOT), and special assessments, for improvements that will begin after developers PN Hoffman and Struever Brothers, Eccles & Rouse finish the private portions of the redevelopment. The Southwest Waterfront Bond Financing Act of 2008 authorizes the Mayor to issue revenue bonds to fund site improvements, with $148m allocated specifically for "development costs" of the project. The remaining $50m is allocated to pay for financing costs incurred by the District. Any funds received in excess of $198 million will be transferred to the District's General Fund. 

According to the development team, the waterfront project is projected to generate more than $40m in annual tax revenues, with $13.3m contributed to the general fund annually after payment of the debt service.Basilica Lofts - condos for sale in northeast Washington DC The land, when fully developed in 2017, is expected to support 2.4 million square feet of development, including 770 residential units, 700,000 s.f . of office space, nearly half a million s.f. of hotel space within three hotels, and 280,000 s.f. of retail. The more public amenities are expected to include new parks, four new piers, a half-mile promenade and bike trail, and renovation of the existing fish market.

Washington DC retail and real estate development news

Tuesday, January 22, 2008

DC Officially Awards SW Development Contract

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southwest DC Wharf development - DC hires development team including PN Hoffman Eccles, Struever bros, City PartnersSome day, there may be just be a reason to visit Southwest. Last week, Mayor Fenty awarded a contract to Hoffman-Struever Waterfront LLC, a partnership between PN Hoffman, Struever Bros. Eccles & Rouse, McCormack Baron Salazar, ER Bacon, Acresh, Gotham, City Partners and Triden. The multiplex LLC now officially holds the contract to turn 23 acres of land along the Washington Channel, into a riverside paradise.Hoffman-Struever Waterfront LLC is a partnership between PN Hoffman, Struever Bros. Eccles & Rouse, McCormack Baron Salazar, ER Bacon, Acresh, Gotham, City Partners and Triden Back in September, 2006, Hoffman-Struever was officially selected as the master developer for the gargantuan project which allowed the team to establish an Exclusive Rights Agreement with the District. The Agreement was signed in April 2007. Now, the Land Disposition Agreement is being drafted - and although the contract has been awarded, the Mayor still needs to wait for the City Council to approve disposition to Hoffman-Struever and the nearly $200 million in Tax Increment Financing (TIF) and Payment-In-Lieu-of-Taxes (PILOT) financing. City officials hope to get the legislation approved by Spring of this year. The enormous project is projected to create more than 2 million s.f. of new development and provide 2,800 permanent jobs in the community, as well as about 3,000 construction jobs, expected to take a long, long time. The District will finance about $200 million of the developmental costs, accounting for roughly 18% of the projected expense; no matter (some say), once completed, the "world-class urban waterfront" is projected to create more than $32 million in tax revenue each year, compared to the $6 million that the land currently brings in. 

Ehrenkrantz Eckstut & Kuhn was selected as the Master Architect back in June 2007. The details of their plan include 767 new housing units - both rental and condos - about 400,000 s.f. of office space, 280,000 s.f. of retail space, a 360-room hotel, 150,000 s.f. of cultural space, and the renovation of the historic southwest fish market. Developers aspire to achieve LEED Silver certification for all nine buildings. Along with all of the new buildings proposed for the area, the development team is including heaps of landscaped open space into the deal, preparing to cultivate more than 14 acres of parks, a half-mile promenade and bike trails for southwest's newest residents. 

The piers will also get their fair share of upgrades. The development team hopes to pick architects for the vertical phases of construction in the summer of 2008. Hoffman-Struever's vision dissects the area into three separate "neighborhoods." The City Pier District, located in the northwest corner of the site, is proposed to be the retail center of the area, laying hold to most of the restaurants and the hotel, thereby being the most likely place to attract visitors (and tourists). Notable mini-developments within this area include a water-taxi service (which with our luck will be 'zoned' - $4 if you want to get in, $25 if you want to go all the way to the other side), and a pedestrian bridge connecting the site to the National Mall. 

Then there's the Esplanade District, which PN Hoffman describes as the center of the project where most of the residential will be sited, along with offices and some neighborhood-serving retail. Finally, the southeastern corner of the site will hold the Cultural Park District which will include a 5-acre "cultural park" and other amenities that will serve as the center of the "cultural zone;" classes will be held on-site courtesy of the Living Classrooms Foundation and the National Maritime Heritage Foundation. “Over the past two years we’ve studied waterfronts all over the world, reached out and forged working relationships and agreements with existing leaseholders, and conducted over 100 meetings with regulatory agencies and surrounding stake holders,” said Monty Hoffman, CEO of PN Hoffman. “This is just the beginning of the process to create a ‘world class’ waterfront. We will continue to work with the mayor’s office on making a waterfront that draws visitors from everywhere, but our first commitment is to the people of Washington, DC. The Potomac River is our greatest natural resource and first and foremost, this project will reconnect Washington with its waterfront. We look forward to working with the City Council to achieve passage of the Mayor's legislative proposal so that District residents can see a shovel in the ground by 2010.” You go Monty.

Washington D.C. retail and real estate development news
 

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