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B Parcel Slated for $150M MXD

WASHINGTON, DC-The District is leasing its so-called parcel B on the Old Convention Center site to Hines│Archstone for a hotel-retail development.

By Erika Morphy | Updated on May 12, 2008

WASHINGTON, DC-The District is leasing out a land parcel that sits on the 10-acre former Convention site, six acres of which is slated for an $850-million development. The portion of land the District has announced it will lease, its so-called parcel B, will eventually be home to further development: specifically a $150-million mixed-use project that will include a 400-key luxury hotel and 100,000 sf of retail.

Hines│Archstone is the master developer for the six-acre urban, mixed-use Downtown community that was once the old Convention Center. Now it will develop parcel B as well. The entire project has been branded CityCenter DC. “It is time we start calling this place what it is, our City Center,” DC Mayor Adrian Fenty, says in a prepared statement. “CityCenter DC is going to be a true retail and entertainment destination–the heart and soul of our dynamic new downtown.”

Under the terms of the development agreement for the Old Convention Center site, Hines

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