Cassidy & Pinkard has been tapped to take control of marketing efforts for the proposed property. As for interest in the project, Kaylor explains that Boston Properties officials "really have not set Cassidy & Pinkard loose to start go out and marketing, so it's too premature to get feedback." But Washington's CBD is very tight--5.5% vacancy rate, according to Advantis/GVA's 3rd Quarter 2002 Office Report--and new office space in the very compact Capitol Hill area is hard to come by, so it is unlikely that there will be a problem getting a big lease commitment before beginning construction.

As for the development costs, Kaylor explains "we haven't defined those numbers yet. " However, an industry insider tells GlobeSt.com "the cost of the construction of the building is about $50 million, of which $4 million is attributable to the land area." New York-based Evans Heintges Architects is in place to design the structure and is currently in the conceptual stage of that endeavor "There is a first floor space but we're not sure if we're going to put retail or a main entrance for a large business there," says Kaylor. "We're very excited about the location and the potential there. We just have a little more work to do with design and marketing details before we hit the market full steam."