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ANACOSTIA WATERFRONT CORPORATION ANNOUNCES DESIGNATED DEVELOPER FOR BASEBALL DISTRICT DEVELOPMENT(Washington DC) On Monday, December 12, 2005 the Anacostia Waterfront Corporation (AWC) announced the selection of designated developers for sites in the area surrounding the new Washington Nationals ballpark that will be built on the banks of the Anacostia River in southeast Washington DC. The team of Forest City Washington, Inc., Western Development Corporation, The Jarvis Company, The Jair Lynch Companies and MacFarlane Partners-DC and the team of Monument Realty, LLC, the Cordish Company, and Triden Development Group will each have the opportunity to enter into exclusive negotiations with AWC to develop mixed-use projects on two publicly owned sites that AWC is presently seeking to acquire near the ballpark. AWC released a Request for Expressions of Interest (RFEI) for mixed-use development in the area surrounding the new Washington Nationals ballpark on September 16, 2005. The RFEI was issued as an open invitation to qualified developers with experience in large scale mixed use, retail, sports-related and waterfront development. AWC received nine proposals from nationally recognized groups to develop the area into a one-of-a-kind mixed use residential, retail, and office district. "These are great teams with strong local capacity and extensive retail and mixed-use development credentials," said Adrian Washington, AWC's new President and CEO. "This brings us one step closer to fulfilling AWC's mission of creating new waterfront districts that increase neighborhood amenities and create exciting new destinations at the river" Washington also noted. The twelve-week selection process represents the first developer solicitation facilitated by the newly formed AWC, an independent instrumentality of the District Government "The ballpark and development program proposed by the development teams is expected to bring millions of people annually to the waterfront, generate new tax revenue, create thousands of permanent jobs and provide a range of affordable and market-rate housing-all helping to fulfill the promise of the Anacostia Waterfront Initiative and accelerate economic benefits for the entire city" said Stephen Goldsmith, AWC Board Chair. "The development envisioned by the Anacostia Waterfront Corporation and the development teams will result in tens of millions of dollars in tax revenue to the District, said Mayor Anthony A. Williams. "This tax revenue is a direct result of building a ballpark in Southeast, and it will significantly benefit the entire city. I applaud the speed with which AWC designated this 'All Star Team' of developers who will participate in the waterfront district development. We need to keep up the pace set by the construction of the ballpark to ensure that the area supports new retail and entertainment venues and provides tax revenues that contribute to the Community Benefit Fund." The two developer teams will work with AWC to create a comprehensive Development Strategy for the area over the next 90 days and negotiate exclusive rights agreements for the development of parcels to be acquired by AWC with the goal of Council approval by July, 2006. |
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