NoMa Bid Teaming Up With Foulger-Pratt For 4-Acre NoMa Project
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The developer and the BID have agreed to a complex deal that centers around a parcel between R Street NE, Harry Thomas Way and the Metropolitan Branch Trail. The deal will net a future park site for the BID, and future mixed-use pad for Foulger-Pratt, the Washington Business Journal reports.
Two acres of the site will be reserved for the NoMa Green, the largest of the parks that are in the works from the BID, and a portion of the parcel will also be reserved for a smaller park. On the Foulger-Pratt side of the ledger, the developer will retain 1.5 acres for a future mixed-use project, which will likely consist of between 300 and 400 residential units over retail.
The 3.8-acre site is in Eckington, an area that has seen increased interest from area developers. Among the projects in the pipeline are the massive Eckington Yards development proposal from JBG and The Boundary Cos. Plans for that project call for 695 units in four connected buildings, and up to 77k SF of retail. [WBJ]