WASHINGTON, DC—F1RST. That is the name of the 450,000-square foot development in the Capitol Riverfront District which Grosvenor Americas and its partners formally unveiled this afternoon.
F1RST will be located directly north of Washington Nationals baseball stadium and designed by architect Hickok Cole. It will feature 325 rental apartments, a 170-room Residence Inn by Marriott hotel and nearly 25,000 square feet of retail space adjacent to stadium.
Like other developments in the submarket, F1RST is being promoted as a live-work-play enclave for residents, retailers and office workers, hence its tagline "Everything Starts at F1RST".
"The Capitol Riverfront District has emerged as a prime example of a neighborhood that represents D.C.'s urban renaissance," says James Patillo, chief development officer of Grosvenor Americas, in a prepared statement.
F1RST "is uniquely located as it has an intimate outdoor rooftop theatre with a view of the ballpark, in addition to the highest quality interiors and amenities," he adds.
McCaffery Interests will provide project, construction and property management for the residential portion. Clark Enterprises is an equity partner in the residential and retail component; Capital One is providing the construction financing for the residential and retail component, along with TD Bank and United Bank. The Residence Inn will be managed by Hospitality Partners.
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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.
