Patriot Transportation will either develop the site--located next to the Washington Nationals Baseball Park--on its own or with a partner, CEO John Baker III tells GlobeSt.com. Davis Buckley Architects and Planners is the architect for the 1.1 million-sf development. According to Baker, the first building to deliver will most likely be an office. At full build-out, the site will have four buildings, with approximately 545,800 sf devoted to office and retail and 569,000-sf to residential and hotel, which will be LEED certified, according to the architect's website. The development would include publicly accessible open spaces and a waterfront esplanade along the Anacostia River waterfront. The site currently is occupied by a subsidiary of Vulcan Materials Co. under a short-term lease. Baker could not provide development costs for the project.
This project represents new inroads for Patriot Transportation, which has a strong footprint in the warehouse and industrial space, including assets in the Baltimore-Washington Corridor. The Anacostia development, Baker says, will be the firm's first project in the District itself--and its first office and retail mixed-use project.
Once this project gets underway, undeveloped acreage fronting the Anacostia in DC will become even more scarce. Earlier this month, the District issued a Request for Expressions of Interest for a master developer to redevelop the Hill East neighborhood on the Anacostia--the last major piece of the District's Anacostia Waterfront Initiative calling for redevelopment, which hasn't yet been identified for redevelopment.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.