Some of D.C.'s biggest developers interested in Armed Forces Retirement Home redevelopment
Mar 19, 2018, 3:02pm EDT
Updated: Mar 19, 2018, 3:32pm EDT Daniel J. Sernovitz
Staff Reporter, Washington Business Journal
The historic Armed Forces Retirement Home in Northwest D.C.
opened its gates Monday morning to more than 150 commercial real estate experts
interested in redeveloping part of the sprawling 272-acre campus.
Representatives from Jair Lynch
Real Estate Partners, Lerner Enterprises, and Quadrangle Development Corp. were among those
who turned out to learn about the prospect of redeveloping an 80-acre swath of
the site by North Capitol Street and Pershing Drive NW, where there's the
potential for nearly 4.4 million square feet of mixed-use. The campus is
bounded by a number of institutional users, including Catholic University of
America and Children's National Medical Center, and is about a mile east of the
Georgia Ave.-Petworth Metro station.
"We're looking for a partner.
We're looking for a strong partner that's able to create a mixed-use
development that's consistent, and really integrates into the surrounding
community," Tim Sheckler, who oversees real estate
utilization and disposal for the General Services Administration's National
Capital Region, told the crowd. "We’re not looking to become an island. We
realize we’re in the middle of the city and we want to really integrate into
the city and be a part of that new community."
Several real estate experts in
attendance said they were encouraged by the prospect, which could have a
significant impact on the surrounding area. At the same time, many are waiting
for more information to see what specific framework the AFRH will set in the
forthcoming solicitation.
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