Uwe Brandes, AWC vice president of Capital Projects, tells GlobeSt.com that there will be a second tier of projects--those that AWC has partnered with private sector companies to develop--on which these firms will advise AWC. He could not provide a dollar figure for these projects although it is well beyond $140 million, he says.
The direct investment in which AWC is involved is more than enough to occupy the five companies though, he adds. "We will assign each company to one of the five projects we have under way."
These include Washington Canal Park, phase one of the infrastructure development at Hill East Waterfront, Kingman Island and Nature Center, the Marvin Gaye Park and Diamond Teague Park.
Brandes says he doesn't believe AWC will increase the number of LSDBEs in its team or, for that matter, significantly increase the level of construction in which it is involved for the foreseeable future.
"These five firms have tremendous capacity and can handle the activity."
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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.
