After receiving a $220 million capital infusion, the developers of a 27-acre waterfront redevelopment proposal in Washington D.C. will break ground on the long-awaited project on March 19.
Jonathan O’Connell updates the status of the redevelopment plans for the Southwest Waterfront in Washington D.C. The project was awarded to developer Monty Hoffman by the city in 2006. The project languished in recession purgatory since then.
The $2 billion project includes “four blocks of new buildings, 150 boat slips, three piers and 20 restaurants, bars and cafes on 27 acres of land and 50 acres of water in the Washington Channel,” writes O’Connell.
The history of the location stretches back to 1890, and the development has raised the specter of economic inequality in the city. There is obvious public interest in the project: the city is providing $198 million in funding for the project, which will create 5,000 permanent jobs and 427 subsidized housing units. But the project also includes a members-only club, and new buildings will block many existing views of the waterfront.
FULL STORY: Southwest Waterfront redevelopment set to break ground, but not without concerns
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