WASHINGTON, DC-It’s official. The District of Columbia government’s plans for the new 1,500-room Marriott Convention Center Headquarters Hotel have been set in motion with the selection of Tishman Realty & Construction Co. Inc.’s Tishman Urban Development Corp. to serve as the developer and construction manager for the project. And architectural firms Rafael Viñoly Architects PC and Nichols Brosch Sandoval & Associates have been tapped to spearhead the hotel’s design. No one involved in the endeavor is talking numbers. However, press reports on the hotel from earlier this year speculate that the gargantuan project could cost an estimated $400 to $500 million to develop.

“It’s hard to quote a number because you use one set of figures on a privately financed project and another set of figures on a publicly financed project like this one, which will be financed through revenue bonds” Tishman Urban Development president John T. Livingston, taking time out from his vacation, explains to GlobeSt.com. “But the number will be substantial. This is probably the largest hotel on the books to be developed in this country.” It is also difficult to speak of dollars at this point when the specifics, such as the square-footage of hotel meeting space and the like, have yet to be decided. “We’re just entering the conceptual design stage as we speak,” Livingston says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.