Dive Brief:
- Developers have announced that Washington, DC, is about to get the first District office building ever built on a pier, according to Commercial Property Executive.
- The 28,000-square-foot Class A space dubbed "Pier 4" is part of The Wharf, a $2 billion mixed-use project along the Potomac River. Pier 4 will extend 260 feet into the river.
- Developer Hoffman-Madison Waterfront said the office building, which will be LEED Gold-certified in the Core and Shell category, already has a tenant for the first floor and has received national and international interest for the remaining space.
Dive Insight:
The Wharf project will include 945,000 square feet of office space, 175,000 square feet of retail, three hotels, a 6,000-seat concert venue, four public piers, 10 acres of green space and a regional water taxi service.
Washington has seen some major private development over the last several months. After many hurdles involving design and environmental impact, the $300 million D.C. United stadium project is a few months away from an anticipated zoning commission approval. According to team estimates, the project should generate about 1,000 construction and permanent jobs and provide a $1 billion economic boon to the surrounding area.
In June, international real estate developer Hines, Qatar-backed Qatari Diar and Hilton Hotel brand Conrad Hotels & Resorts broke ground on the $250 million, 360-room Conrad Washington, DC, luxury hotel, which is part of the larger CityCenterDC mixed-use project. Project officials said the hotel would generate more than 450 full-time construction jobs, 350 permanent jobs and 200 indirect jobs in the surrounding area.
The District convention and sports authority is also building the Entertainment and Sports Arena (ESA) and announced in August that they would award the contract to the joint venture of Gilbane Building Co. and Smoot Construction Co. Events DC said that it had set a goal of 50% CBEs for construction, with 35% of all contracts set aside for small business enterprises (SBEs).
