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WASHINGTON, DC-The Anacostia Waterfront Corp. (AWC) has narrowed the choice to two development teams--Madison/KSI Waterfront Partners and PN Hoffman/Struever Brothers Eccles & Rouse--to develop up to 47 acres of publicly owned land along the District's Southwest Waterfront.
"The five development teams who were selected for the short list were all very impressive and highly qualified, each of whom had the ability to redevelop the Southwest Waterfront," says Adrian Washington, president and CEO of AWC. "These two teams, however, demonstrated most clearly how their experience, vision, and approach would combine with the strengths of AWC to produce a public-private partnership that will maximize the benefits to the Southwest Waterfront and meet the goals that the District government and the local community have set."
These two teams were selected from a short list of five teams announced June 13. Initially, there were 17 respondents to AWC's Request for Expressions of Interest issued on March 1.
This project, the Southwest Waterfront Small Area Plan, is part of the Anacostia Waterfront Initiative. The plan calls for the creation of a urban neighborhood that includes residential housing, restaurants and shops with new residences located above, a new hotel, a cultural anchor, marinas, 14 acres of parks and open space, and an expanded riverfront promenade anchored by major public plazas with new piers that provide public access to the water.
David Brainerd, managing director of Madison Marquette, tells GlobeSt.com that its team's proposal is consistent with this vision for the SW waterfront. It differs slightly in that its proposal plans for two smaller independent hotels as opposed to one large flagged hotel. "We felt a hotel of that size--400 to 450 rooms--was too overwhelming for the site," he says.
The PN Hoffman/Struever Brothers Eccles & Rouse team was unable to respond in time for publication. Brainerd says he believes the final decision will be based on financial considerations and deal structure.
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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.
