Despite the fact that debt is hard to come by these days, Waterfront Associates has been able to obtain $250 million in construction financing for Waterfront Station, according to this article from the WBJ. From the article: "The financing includes the project’s first two buildings, totaling 628,000 square feet of office and ground-level retail space. The office component is fully leased to the District of Columbia for various governmental offices, and the retail component will include a Safeway supermarket, a CVS pharmacy and other retail tenants. At full build-out, Waterfront Station is expected to include 1.2 million square feet of office space, 1,000 residential units and at least 110,000 square feet of stores and restaurants." Construction has reached street level (photos to come next week after all the rain that's forecast passes us) and phase one is supposed to deliver in 2010. Update: Here is one cloudy photo I was able to take between downpours on Sunday of the cranes hovering over Waterfront Station taken from across the Washington Channel.