THE NEW EPICENTER OF DC DEVELOPMENT?
Want to get a jump-start on upcoming deals? Meet the major D.C. players at one of our upcoming events!
Yesterday as we drove north from Union Station to 1200 First Street forMayor Fenty?s official proclamation of a NOMA Business Improvement District, development seemed to be happening on every block. Yes, NOMA's been around and talked up for years. But now it has critical mass. In the next 8 months, 8 projects are set to break ground—a new 4mm SF. Tenants are arriving—1500 into the new ATF headquarters next month. And not just offices, but big plans for residential, retail, and hotel.
At yesterday's event above, XM Satellite CEO Hugh Panero with newNOMA BID president Liz Price. Hugh has been a pioneer in the area since 1999, telling us that it's only because his father was into historic preservation that he realized NOMA's potential—being able to see past bullet holes in buildings when he was deciding where to locate XM. Liz comes from the AWC, where she led the recent billion dollar developer competition for the SW waterfront.
J Street Development's Bruce Baschuk, right, Chairman of the new NOMA BID, has headed what he calls the ?BID wannabee? for the last year, and is delighted it's at last official. That means businesses can now tax themselves and pool their efforts on marketing, creating infrastructure, and keeping the area clean and safe. Bruce?s firm has developed office condos at 111 K St. which are 2/3 pre-sold. With him, Doug Firstenberg ofStonebridge Carras, planning a seven acre site at First and M with 2 mm SF of mixed use. And most all the other players are there as well: Akridge, Abdo, Brookfield, Douglas, Trammell, JBG, MRP, Polinger, Wilkes, Bristol, Archstone-Smith, Tishman Speyer.
These are the people who can make or break the early tenant situation: theFeds! From left, Deputy ATF Director Larry Ford, ATF CFO Melanie Stinnett, GSA Regional Administrator Annie Everett and Assistant Regional Administrator Bart Bush. Besides ATF, the EEOC is bringing its headquarters and 700 employees to the area (next year), and NOMA is actively seeking to be the location for planned DoJ expansion.
DC Congresswoman Eleanor Holmes Norton, above, has been just about NOMA's strongest advocate, helping get the NY Ave. Metro funded and GSA onboard the bandwagon.
And why did they hold the event yesterday on the 12th floor of the newestbuilding? So everyone can rise above the dump trucks and dust and appreciate the NOMA views: