Monday, September 22, 2008

Update on SW Waterfront Project

At tonight's SWNA meeting, Elinor Bacon from ER Bacon Development, one of the development partners of the Hoffman-Struever Waterfront, LLC team, gave an update on the progress at the SW Waterfront redevelopment project. They are trying to get the Land Disposition Agreement struck between the city and the development team, so they can go into the design phase and begin construction. The bill is still pending in the DC Council. A hearing is supposed to be held in Councilmember Brown's Committee of Economic Development on October 6th. Bacon expects the bill to pass the council within the next two months, so by early next year, the development team can get started on the design process. A $198 million bond was approve for infrastructure improvements in July as stated in one of my prior posts, as well as what's planned at the site. The timetable for development is as follows:

2009: Design process to begin

2011 - 2013: Construction of phase I (the central part of the site where hotels, office, and residential will go)

2013 - 2015: Construction of phase II (the northern part of the site near the fish market and where most of the retail will go)

2015 - 2017: Construction of phase III (the southern part of the site closest to the existing residential neighborhood, where there won't be as much activity)

The rendering is from the development team's website.

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