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Real Estate Forces Team with District on Renewal Project

WASINGTON, DC-District officials and real estate firms Kaempfer Co. and Forest City come together to redevelop the Waterside Mall. The project is just one aspect of the city's efforts to revitalize its Waterfront area.

By Barbra Murray | Updated on November 05, 2001

WASHINGTON, DC-Real estate investment firms Kaempfer Co. and Forest City Ent. are partnering with local city officials on the redevelopment of the Waterside Mall as part of the District’s waterfront revitalization project. The 1.1-million-sf building’s revitalization is expected to attract both businesses and tourism traffic to the underutilized area.

In an announcement on the partnership, Deputy Mayor for Planning and Economic Development Eric Price says “the redevelopment of Waterside Mall by this caliber of development team sends an important signal to the business community that the market believes that the waterfront is a growth area.” It was Kaempfer’s and Forest City’s idea to team with District officials to redevelop the waterfront property. The 30-year old urban renewal era structure is a mixed-use facility with ample accommodations for office and retail tenants. There are two 130-foot towers on the site, as well as a three-story platform of multi-use space.

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