Monday, March 19, 2018

WBJ reports that DC's biggest developers are keen on the AFRH site project

Note that this Washington Business Journal article is behind a paid firewall, so only the first few paragraphs are included. 



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.
...

No comments:

Post a Comment