Global Viewpoints of Commerical Real Estate - the Argus Software Blog  posted about HDG Waterfront Partners on February 18, 2009.Â
By: Jennifer Brenner Andrade
HDG Waterfront Group is pushing an environmentally friendly plan for the 67-acre Hill East development project in urban Washington DC east of Capitol Hill. The land, which currently holds the closed Washington DC General Hospital complex, has waterfront access to the Anacosta River. The goal of the project is to create “one of the greenest communities in America,” says Sinclair S. Cooper of Hunt Development Group’s Urban Ventures Group, one of two master developers on the project.
This billion dollar project would introduce a three-million square foot, mixed-use project with loads of green touches including: a 200,000 square foot renewable energy power plant; a daily farmer’s market; and a town center that will provide residents walking access to groceries, restuarants, offices and day cares. According to published reports, three other development groups have also submitted proposals for the project, these include Hill East Development, New Hill East and East-banc.
HDG Waterfront Group’s proposal is the least dense of all of the proposals, which each call for about five million square feet of new development, explains Cooper who adds that the smaller, lower slung development profile will allow more room for green spaces and reopen the view of the river.
The District’s Mayor, Adrian Fenty and his office, are running a sophisticated process to finalize plans for the site, says Cooper. The winning development team will either lease or buy the land from the city. Notably, HDG’s plan calls for over two million square feet of residential space, 473,000 square feet of office space and 100,000 square feet of retail among other plans.
One Planet Communities, a non-profit initiative of sustainability experts BioRegional and global partners, helps forward-thinking municipalities and real estate developers build neighborhoods that reduce the ecological footprint of residents to a truly sustainable, “one planet” level.
The One Planet Community independent endorsement is a sign of the highest achievement in sustainable design & operation.
Read more about BioRegional
William C. Smith & Co. is a Washington, DC-based multidisciplinary real estate firm. The company has provided integrated real estate services to the Washington metropolitan area and beyond for four decades. In complement to its development (WCS Development), construction (WCS Construction), and sales, brokerage and mortgage (WCS Sales and WCS Mortgage) divisions, the firm currently owns and/or manages a portfolio in excess of 11,500 units of residential real estate. With a group of subsidiary service companies under the William C. Smith & Co. umbrella, the firm is able to offer exemplary service to its development and property management clients. Â
Read more about William C. Smith Companies.
The following article appeared in the Voice of the Hill - Capitol Hill Current, Volume 10, Number 18 on February 12th, 2009.
By Julie Westfall, Staff Writer
At least three community groups have unanimously endorsed a single plan from HDG Waterfront for the development of the vast Hill East waterfront that promises to change the face of the riverfront forever.
Proponents of the HDG plan agree that the developer has presented itself as the most environmentally friendly and progressive choice, with plans that include a possible wind farm and renewable energy plant along the Anacostia River that could enable the development to create all of its own energy.
Three other development groups submitted proposals - Hill East Development, New Hill East and East-banc.
Hill East - a 67-acre plot once known as Reservation 13 - is the area south of RFK Stadium and the DC Armory, bordered by Independence Avenue to the north, 19th Street to the west and Congressional Cemetery to the south. The site is adjacent to the southern entrance of the Stadium Armory Metro station and faces the Anacostia River.
In its plans, HDG says it wants to create the first “One Planet Community” in the District and the first in any major U.S. city. “One Planet” communities are a nonprofit initiative of a consortium of sustainability experts who independently verify that communities are sustainable. More information on the program is at www.one-planetliving.org.
Beyond its environmental goals, HDG’s general plans closely mirror the mixed-use plans of two other applicants, though HDG’s proposal features shorter, lower-density buildings and more open green space. HDG’s designs call for only 3 million square feet of development, as opposed to other developers’ proposals of 5 million square feet.
HDG is proposing to make C Street the main street in the development, with a new grocery store near the Stadium-Armory Metro stop. Water Street, Massachusetts and Independence avenues would buttress C Street with a variety of retail, office and residential uses. The city has proposed that a third of the residential units will be reserved for affordable housing, though some experts and officials have speculated that the national economic downturn may make that commitment unfeasible.
A portion of the site, which once housed the D.C. General Hospital, will also be reserved for undetermined medical uses. And another portion will be used for a charter school, according to the proposal.
HDG is a national, privately held development group with more than $2 billion in property in the D.C. area. Its proposal partners are Abdo Development and EYA Urban, along with other long-known names in D.C. development. Both Abdo and EYA have done recent projects in Ward 6, and Jim Abdo recently spoke to a crowd gathered to discuss all the proposals.
“We are creating real jobs and real opportunity,” Abdo said at the gathering. Its plan should create 2,700 permanent jobs and almost 5,000 construction jobs, the developer said.
Community leaders noted the developer’s reputation for working well with the neighborhoods as a big reason to support the plan.
“They are developers who change their mind after they hear what they community wants,” said Beth Purcell, first vice president of the Capitol Hill Restoration Society, at a recent meeting of the Southeast Capitol Hill advisory neighborhood commission. The restoration society voted unanimously to support the HDG proposal with a few caveats that included a request for more neighborhood recreation space.
Elaine Perry, president of Hill East Waterfront Action Network, agreed.
“We were impressed with their history of weighing in with the community and working with the community,” she said at the meeting.
The District has not said whether it will lease or sell the land to the developer who wins the bid, and it is still haggling with the federal government over transfer of some of the land. But HDG’s preliminary budget factors in purchase of the 67 acres for 41.5 million, with a total estimated project cost of $951.6 million. HDG believes it will have enough financing to supplement all but $20 million of that cost.
Though community groups have coalesced around HDG, the decision will be left to the Office of the Deputy Mayor for Planning and Economic Development, and ultimately, Mayor Adrian Fenty. It is not clear when the city will choose a developer. Construction is not expected to begin for years.
HDG Waterfront has a presentation of its plan at www.youtube.com/watch?v=-rP3P7ddj50.
EYA is a development firm focused on creating high quality, lifestyle friendly residential communities in “in-fill” urban locations in the Washington, D.C. metro area. Founded by Terry Eakin and Bob Youngentob in 1992, the company has grown to approximately 75 employees involved in the acquisition, entitlement, planning, construction, and sales of its projects.
EYA is the only Washington area residential builder/developer that exclusively specializes in row homes and condominiums in urban locations.Â
Read more about EYA.
