(For more retail coverage, click GlobeSt.com/RETAIL.)
WASHINGTON, DC-The long-vacated 25-acre Camp Simms property, formerly home to the National Guard, will finally begin to take on a new life next week. That's when ground will be broken for the Shops at Park Village.
Developer William C. Smith & Co., which acquired the parcel from the District five years ago, will construct the 112,000-sf shopping center, as well as 75 single-family residences on the site. The entire project will carry a price tag of $51 million. William C. Smith, lead developer, is facilitating the retail portion of the project as part of a joint venture, CHR LLC, that includes East of the River Community Development Corp.
Located in the underserved southeast neighborhood of Congress Heights, Camp Simms sits near Alabama Ave. and 13th Street. The property had been part of a larger 169-acre parcel that served as an encampment and firing range for the National Guard from 1904 to 1958. The city later came into possession of 25 acres of the parcel and just recently officially sold the land to William C. Smith for the mixed-use endeavor. The Shops' biggest claim to fame as yet is the Giant grocery store that, about one year ago, committed to opening a 63,000-sf anchor at the site.
"We know that providing quality housing is not enough to create healthy, sustainable neighborhoods," company chairman and CEO W. Christopher Smith Jr. tells GlobeSt.com. "We were fortunate to be able to add the cultural arts and recreation component this year with completion of the Town Hall Education Arts & Recreation Campus. Adding the retail opportunities brings another vital element to the community."
Funding for the Shops at Park Village will come from Wachovia Bank and Local Initiatives Support Corp., which will provide CHR LLC with enhanced construction and permanent financing; SunTrust Bank is behind the financing for the residential segment of the project. The developers are targeting completion for next spring.
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