Search
 

Clark Realty To Develop $2.5B Poplar Point

WASHINGTON, DC-Clark is beating out an Archstone-Smith and Madison Marquette JV and Forest City Enterprises to build the largest economic development project yet in the District.

By Erika Morphy | Updated on February 14, 2008

WASHINGTON, DC-Clark Realty’s plan to redevelop the District’s Poplar Point–a $2.5-billion project–has been selected by local officials. The firm beat out an Archstone-Smith and Madison Marquette joint venture, and Forest City Enterprises–the two other developers that made it to the District’s short list last month–to win the plum assignment. According to Mayor Adrian Fenty, it is the largest economic development project on which District has ever embarked.

Part of the District’s $10-billion-plus Anacostia Waterfront Initiative, Poplar Point is a 110-acre-stretch along the Anacostia River in Ward 8. An environmental impact study is still under way and until it is complete details of the plan cannot be finalized. But Clark’s redevelopment of the area is likely to include hundreds of units of housing, new retail, hotels and office space–as well as a 70-acre waterfront park. Other requirements made by the District for the project include a 51% employment rate for District residents when developing the project, a portion of the housing must be affordable and 35% of the contracting dollars awarded to small and local certified businesses.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.