    
DC City Council Unanimously Passes Exclusive Rights Agreement Confirming PN Hoffman as Developer of Southwest Waterfront
PN Hoffman
FOR RELEASE APRIL 20, 2007
Washington, D.C., April 20, 2007 – The Washington DC City Council
today passed the Exclusive Rights Agreement (ERA) which confirms
that the team of PN Hoffman, Struever Brothers, Eccles & Rouse
(Hoffman-Struever Waterfront LLC) can proceed with development of
Washington DC’s Southwest Waterfront. The resolution passed by
unanimous vote.
The developer’s plan aims to produce an active,
urban riverfront and park system, showcase distinctive cultural
destinations, and build upon the existing, strong waterfront
community. It features the following components:
-
Housing – approximately 650 units of
market-rate residential and 290 units of affordable housing.
-
Cultural – a 150,000 square foot
cultural component including a Maritime Center.
-
Hotel/Office – 360 hotel rooms and
significant Class A commercial office space.
-
Retail – neighborhood-serving retail
such as a gourmet grocery, casual and upscale dining, cafes,
shops and opportunities for local, small retailers.
-
Parks – 14 acres of parks, open
space, and promenades throughout the project.
-
Water-focused development –
significant improvements to the existing marina and pier
facilities.
-
Sustainable Design – the first LEED-Silver
certified mixed-use project in the city.
-
Significant local, small and
disadvantaged business enterprises (LSDBE) Participation –
participation by Washington DC-based LSDBE team members in all
aspects of the project, including ownership.
“We are grateful to the City Council and to the Mayor and his staff
for their vote of confidence in us,” said Monty Hoffman, CEO of PN
Hoffman. “We’re ready to create a world-class waterfront
destination, appealing to visitors from around the globe but our
first commitment is to the people of Washington, DC and the existing
Southwest Waterfront community. First and foremost, this project
will reconnect Washington with its waterfront.”
The Hoffman-Struever Waterfront team consists of PN Hoffman,
Washington’s premier developer of residential mixed-use projects,
largely responsible for the dramatic revitalization of the 14th
Street Corridor; Struever Brothers, Eccles & Rouse, a developer that
has reclaimed and transformed the urban waterfront throughout
Baltimore; McCormack Baron Salazar, a national mixed-income and
affordable housing developer; and approximately 30 other entities
that are market leaders locally and nationally in the areas of
affordable housing, mixed-use retail, cultural programming, urban
planning, finance and maritime development.
About PN Hoffman
Since 1993, PN Hoffman has been developing extraordinary upscale
residential and mixed-use properties in the Washington, DC Metro
area. The Company is deeply committed to serving the neighborhoods
of Washington and has built over 30 developments in the City since
its inception.
About Struever Brothers, Eccles & Rouse
Established in 1974, Struever Brothers, Eccles & Rouse has a
long-standing and prestigious record of success as a unique
development company. Known for conquering challenging locations as a
multi-role developer and construction manager, the firm has an
intentional focus on urban mixed-use projects, neighborhood
transformation, historic adaptive reuse and reinvigorating city
waterfronts. With more than 16 million square feet and nearly $5
billion of total investment costs in projects completed or under
development, Struever Brothers, Eccles & Rouse is a uniquely
diversified, full-service real estate development and construction
company.
Media Contacts:
Alanna Deal
PN Hoffman
202.686.0010 x 253
adeal@pnhoffman.com
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