Work Begins on Giant-anchored CityMarket
Construction will officially begin on CityMarket at O, a 1-million square-foot mixed-use development in Washington, D.C.’s historic Shaw neighborhood, on Friday, Nov. 18. Attending the event will be Roadside Development, a Washington-based real estate development firm, Mayor Vincent Gray, Acting Assistant Housing and Urban Development (HUD) secretary and Federal Housing Administration (FHA) Commissioner Carol Galante, and rep. Eleanor Holmes Norton (D-D.C.), among others.
The event will include the demolition of one of the walls of a former Giant grocery store, to make way for the restoration of 1881 O Street Market Building, one of the five original brick market buildings in Washington. The structure will be restored to house a flagship 72,000-square-foot Giant Food supermarket. The development (see above for a rendering of how the completed project is likely to look) will also include other retail establishments and restaurants, a 182-room Cambria Suites hotel, 635 residential units, more than 500 vehicle parking spaces, 300-plus indoor bike parking stalls, and a 270-linear-foot rooftop dog park.
A landmark for HUD, CityMarket at O is one of 14 infrastructure projects around the United States chosen by the Obama Administration to be expedited via the permitting and environmental review process, as well as the only mixed-use development (and non-infrastructure project) to be fast-tracked. The project will create more than 2,400 jobs, among them construction positions, factory positions and permanent positions on site. Additionally, the development will bring an estimated 1,000 new residents to the neighborhood.
Construction on the Giant Food store is slated to be complete by the summer of 2013. The hotel and 401 units of market-rate rental housing will open in early fall 2013. Rounding off the project, an 84-unit affordable senior housing building and 150 high-end condominiums will be ready in fall 2014.
“CityMarket at O will enhance the quality of life in Shaw and act as a bridge from this historic neighborhood to Downtown, Gallery Place, the U Street Corridor and Howard University,” said Richard Lake, one of the three partners of Roadside Development. “This two block development will also help create an enhanced environment for the Convention Center and the surrounding neighborhood.”
“This is a project that is long overdue,” added Armond Spikell, another Roadside partner. “We have worked with the city and the community to restore the historic façade and combine it with urban amenities, featuring residences, retail shops and a hotel. CityMarket at O is centrally located near the Shaw/Howard University Metro stop, a convenience that will allow residents, visitors and employees to have easy access to public transportation. This will be a walkable community.”
Bernstein Management Corp., which owns and manages 75 properties in the D.C. area, joined forces with Roadside as a long-term investment partner in the project. Other partners include the District, Giant Food, DC Regional Center and EB5 Capital, all of which have made significant financial contributions. The city will invest $37.5 million through a grant and TIF proceeds. Among the other team members are Clark Construction, Bozzuto Management, Shalom Baranes and Associates, Concord Hospitality, and Choice Hotels.