PROGRAM SUMMARY

February Program:
Hines|Archstone-Smith Presents the Design
for the Old Convention Center Site Redevelopment

Moderator:
Dawn Marcus
Hines

The February 27th 2008 luncheon was sold out. It was so popular because it related to Hines|Archstone's thoughtfully planned, exciting redevelopment of the Old Convention Center Site in the District of Columbia. The panelists, facilitated by Dawn Marcus of Hines, described the project's scope and design considerations.

This single-phased $850,000,000 project will ultimately reshape the 10-acre lot surrounded by 9th, H and 11th Streets and New York Avenue , NW. Construction is anticipated to begin in 2008 and complete in 2102. The mixed use development will consist of 450,000 square feet of office, 280,000 square feet of retail and 690 housing units. There will be approximately 1,700 parking spaces. In addition, the Hines|Archstone development team shall work closely with the District to construct several functional “civic/open spaces” such as parks and plazas. Both the City and Gould, who are developing a portion of the site, must meet guidelines set by Hines|Archstone to ensure cohesiveness on the project. Over 100,000 square feet will be reserved for uses to be decided upon by the District. According the projects website, the team will develop a plan that complements the city's strategic objectives which are to (i) strengthen neighborhood businesses: (ii) generate quality housing and (iii) improve the public realm.

Project highlights include: the creation of jobs for District residents and LSDBE's, 20% of residential units will be affordable and 30% of retail space will be devoted to smaller, local merchants. Retailers will include a broad range of restaurants, cafes, grocery/market foods, entertainment, home furnishings and neighborhood services. Emphasis has been placed on the project being “green” by including green roofs, irrigation produced by recycled drain water, and solar shades built onto the façade. The team's goal to “go green” is not to save money, but to change the current lifestyle philosophy of the neighborhood.

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