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This is not as upscale as that development but will be better to foster a stronger black community that wont force so many blacks out.
Its not as large scale but its significant as that Skyland Center project.Already the surrounding area is seeing greater interest and development
Wow, hopefully it can still find it's way to get back on track, or maybe stall for a bit until time is perfect to build up. I remember always dropping off/picking my cousin up at the West End Marta station when I lived there. The area has bones for real development and is not far from AUC.
Wow, hopefully it can still find it's way to get back on track, or maybe stall for a bit until time is perfect to build up. I remember always dropping off/picking my cousin up at the West End Marta station when I lived there. The area has bones for real development and is not far from AUC.
Yeah I suspect in the grander scheme of things, this is just a hiccup. The site is still prime for major redevelopment and maybe another iteration will be even more inclusive and work to ensure a greater degree of equity for long-term West End residents and business owners.
I'm sure it will still move forward once everything with COVID-19 goes away next year. Details surrounding Northeast Heights Town Center in Ward 7 were released as they prepare to break ground in early 2021. I'm sure the West End Mall redevelopment will find funding. Maybe opportunity zone funding?
-1,355 residential units
-241,000 square feet of office space (**DC Department of General Service Lease Secured**)
-130,000 square feet of retail and restaurants
-70,000 square-foot grocery store
Skyland Town Center announced some of their initial retail tenants as they prepare to open. Some are black owned. The first phase has over 85,000 sq. feet of retail space so there are many more to come.
Another DC agency (DCRA) is moving across the river to a 200,000 sq. foot office building to be built in Ward 8. It will join the massive St. Elizabeth East development in Congress Heights.
The developers of the grocery-anchored Northeast Heights project in D.C.’s Ward 7 have picked up some new partners and new financing to drive the massive effort forward.
Cedar Realty Trust announced Thursday it’s forming a joint venture with New York-based Asland Capital Partners and the Goldman Sachs Urban Investment Group to manage the construction of the first phase of the redevelopment, which will ultimately transform a pair of old shopping centers at the intersection of Benning Road and Minnesota Avenue in Northeast into 2 million square feet of mixed-use space. Cedar previously brought on board the Trammell Crow Co. as the fee developer of the project.
The new development team also announced it secured $105 million in construction financing for the project from J.P. Morgan. The question of how, exactly, to make the project pencil out has been a key issue for Northeast Heights, considering the developers are also negotiating with D.C. officials about creating a tax increment financing district to put some city funds behind the project. The 13.3-acre property is also located in a federal opportunity zone, a fact cited by the developers in a news release as a prime way it should be able to attract future investment.
"Formation of this joint venture represents an important first step in advancing Cedar Realty Trust’s vision for Northeast Heights, a mixed-use redevelopment project that will bring substantial economic activity to Ward 7,” Robin Zeigler, Cedar’s chief operating officer, said in a statement.
The first phase of the development to be tackled by this new joint venture will include a six-story, 258,000-square-foot commercial office building, set to be leased entirely by the D.C. Department of General Services. Mayor Muriel Bowser announced last year the agency, one of the city’s largest, would move from its current home at the soon-to-be-redeveloped Reeves Center on the U Street NW corridor in order to prop up the Northeast Heighs project.
In the release, the developers said they plan to start construction on the building by the second quarter of fiscal 2021. The structure will also include about 18,000 square feet of ground-level retail and the team plans to lease that space to “retailers that benefit tenants of the office building and bring necessary amenities and services to the area.”
The new DGS headquarters will be located on the western half of the property, currently the home of the Senator Square shopping center. The rest of the project is set to include 1,350 apartments, 32,000 square feet of additional office beyond the DGS space, a 70,000-square-foot grocery store and 130,000 square feet of other retail.
While Cedar and Trammell Crow have long histories developing projects in the D.C. region, this is one of the first local efforts for Asland and its first in the city itself. The developer is also in the midst of building the Heritage at Old Town project in Alexandria, which attracted no small amount of local controversy.
As for the Goldman Sachs investment group, the firm invests more than $1 billion annually in real estate projects throughout the country.
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