PN Hoffman, Struever Brothers, Eccles & Rouse Selected as Developer of Southwest Waterfront
Community is Key as Team Seeks to Establish a World-Class Destination Reconnecting Washington, DC with its Waterfront
FOR IMMEDIATE RELEASE

Washington, D.C., September 29, 2006 – The team of PN Hoffman, Struever Brothers, Eccles & Rouse (Hoffman-Struever Waterfront LLC) today announced that it has been selected by the Anacostia Waterfront Corporation as the Master Developer for Washington DC’s Southwest Waterfront.

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 focused on education.

• Hotel – 360 hotel rooms.

• Neighborhood amenities – 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.

“This project is about more than bricks and mortar,” said Monty Hoffman, CEO of PN Hoffman. “Our philosophy is ‘neighborhood first,’ and while we plan to create a world-class waterfront destination, appealing to visitors from around the globe, 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 vision organizes the site into three districts that will link an expansive pedestrian promenade along the Washington Channel:

City Pier District: The northwest end of the site will be the more active district of the development, due to its proximity to the National Mall, L’Enfant Plaza and the active historic fish market. It will contain the majority of the restaurant and retail uses and is the location of 360 hotel rooms. Additional features include a fresh produce market pier to enhance the existing fish market, a water taxi service connecting the Southwest Waterfront with the new baseball stadium, Old Town Alexandria, Georgetown and other destinations, a performance space for cultural use, and a pedestrian bridge at 10th Street, linking the site to the National Mall.

Esplanade District: The central core of the project features a substantial amount of apartment and condominium development, a small amount of office space, and neighborhood-serving retail such as a gourmet grocery, small neighborhood bistros and waterfront cafes.

Cultural Park District: The southeastern end of the project, closest to existing neighborhoods, is the least intense development area. The cultural park itself is a 5.5-acre green park that will be the centerpiece of the cultural zone. Cultural uses will feature educational opportunities at the water, such as programs by Living Classrooms Foundation and the National Maritime Heritage Foundation.

“We are thrilled with the selection of the Hoffman-Struever Waterfront team as our partners in the redevelopment of the Southwest Waterfront,” said Adrian Washington, CEO of the Anacostia Waterfront Corporation. This is an impressive team with significant local and national expertise and a successful track record revitalizing DC neighborhoods. We look forward to working with the team to develop not only a world-class waterfront destination, but also a sustainable neighborhood on a human scale.”

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.

"As a Southwest resident for nearly 30 years and ANC commissioner, I have followed the submittal and selection process very closely,” said Andy Litsky, Chairman of ANC-6D. “I am pleased with the selection of a truly local development team that has demonstrated sensitivity in other parts of the city and will work with us to meet the needs of our waterfront community. I look forward to working with Hoffman-Struever Waterfront to see this project through to completion.”

The team was chosen from among 17 highly qualified teams that initially responded to the request for expressions of interest from the Anacostia Waterfront Corporation. After months of rigorous review and negotiation, the AWC made its selection between the two finalists yesterday.

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.

About the Anacostia Waterfront Corporation
The Anacostia Waterfront Corporation is an instrumentality of the Government of the District of Columbia charged with responsibility for facilitating and implementing the development, redevelopment, and revitalization of the lands adjacent to the Anacostia River and associated waterways and for environmental restoration of the Anacostia River and associated waterways.

Media Contact:
Alanna Deal
202.966.2100 x205
adeal@pnhoffman.com

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Press Release (PDF)
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