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WASHINGTON, DC-Now that the groundbreaking for the $611-million stadium has passed, the quasi-public entity overseeing development is getting set to decide what's next for the neighborhoods that stretch between north of M Street to the waterfront. Adrian Washington, president and CEO of the Anacostia Waterfront Corp., tells GlobeSt.com that it soon will be receiving a preliminary report from the master-planning committee.
There are two possible scenarios currently entertained, Washington says. Both are basically mixed-use, mixed-income development plans. "One would be an entertainment destination, retail-type environment. The other would be similar, but expanded to include big box retailers." The report would include whether this latter scenario is feasible in terms of traffic flow. Also, he says, the organization will need to explore community sentiment about how they feel about these retailers moving in.
Washington says such retailers as Bed, Bath & Beyond, Linen n' Things and urban-style grocery stores are well suited for the space. When asked whether Wal-Mart might be a possibility, he says nothing was being ruled out, "but I don't think so."
From the city's perspective, he says, big-box retailers would bring in welcome tax revenues that now flow to nearby suburban areas. "We are losing lots of shoppers and lots of tax dollars. Today, if someone wants to go to Costco for instance, they drive to Pentagon City [in Virginia]. We need to build the tax base of this city and this is a good way to do it."
Washington says that baseball stadium will be supported by enough traffic infrastructure for peak events. But when there are no games schedules, it makes sense to use that infrastructure to support shoppers coming to the area. Washington says nothing formal has been suggested or proposed with the likely suspects of retailers. "But developers meet with retailers all time." The subject has come up, he adds.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
