The short-list of developers consists of: EastBanc–LNR Waterfront Partners; Madison Marquette/KSI Waterfront Partners; PN Hoffman/Streuver Brothers Eccles & Rouse; SW Waterfront LLC; and the John Buck Co. The Southwest Waterfront Small Area Plan, developed as part of the Anacostia Waterfront Initiative, calls for the creation of an urban mixed-use neighborhood with residential housing, 14 acres of parks and open space and an expanded riverfront anchored by public plazas that provide access to the water. For previous coverage, click here.
"We plan to move expeditiously to complete the selection process so that the transformation of the Southwest Waterfront can begin," says Adrian Washington, president and CEO of AWC. It is anticipated that the final selection process will be completed by the end of summer.
Kurt Ivey, senior vice president of marketing and communications for Madison Marquette, tells GlobeSt.com he believes the reason why Madison Marquette's proposal made the cut is because its team included companies expert in retail, hotel and cultural development. Madison Marquette's bid includes close to 300,000 sf of retail development, 87,000 sf of office development, 868,000 sf of residential, 360,000 sf of hotel and 150,000 sf of cultural development.
The next stages of AWC's bidding process are unclear, Ivy adds. "This is an important development not only for the District but the entire region. We are anxious to determine what the next steps should be."
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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.
