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February 14, 2008
 
       
 
LandAm
 
CLARK WINS
POPLAR POINT!

Sponsor update: Our friends at Walsh Colucci, zoning and land use law specialists, have had a string of successes: approvals for a multi-purpose building at Marymount U., 925 apartments and a 625-room hotel in Potomac Yard; and a 600k SF office bldg in Rosslyn, among many others.  Congratulations!

 

Bisnow was on the scene late this morning as Mayor Fenty announced Clark Realty Capital as the city's development partner for the $2.5B Poplar Point project. Deputy Mayor Neil Albert told us he was impressed because their plan was the "most consistent and responsive to the community."  And Albert's aide Sean Madigan told us:  They "really blew it out of the water" by "thinking big."  (The other finalists were Archstone-Smith and Forest City.)

 

Clark project leads David Ritchey and Bereket Selassie were all smiles despite frigid temps and high winds this morning at the press conference on top of a parking garage overlooking Poplar Point and the Anacostia River. Fenty said the view below represented the largest economic development project the District's ever embarked on. Last summer, DC issued a Request for Expressions of Interest (RFEI) for Ward 8's 110 acres along the Anacostia River. Last fall, Clark submitted a plan that creates a "green Silicon Valley"—a home for the environmental movement they hope will attract "green-collar" jobs. The proposal also includes a 150k SF "National Hall of the Environment" and a 70 acre park. 

Builders' Ball
 

We snapped this pic of Poplar Point three hours ago. Clark's plan includes a soccer stadium option and a "lid" over 295 (similar to the one atop 395 at the National Mall) that connects Poplar Point with historic Anacostia.

 

Add some green and blue, and presto, it's spectacular!  Poplar Point is one of the targeted sites for DC's Anacostia Waterfront Initiative—a plan that funnels over $10B worth of investment along the river in the next several decades.

 

And while we're speaking of DC, look who we saw at a nearby table earlier this morning as we were breakfasting at the Bethesda Daily Grill: Metamorphosis Development Group managing partner Christopher Donald and Walker & Dunlop CEO Willie Walker. Christopher has just signed a term sheet with DC to develop "Parcel 42" at 7th and R, across from the Howard/Shaw Metro station:  112 units of affordable with 10k SF ground floor retail, two levels of underground parking, and an adjacent 5k community center. It would break ground in late '09 after a PUD process.  Meantime, enjoy that yummy looking bacon and eggs!

 
 
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