CREW DC: News-Program Summary

PROGRAM SUMMARY

October Program:
Mixed Use Developments: Transforming The Wisconsin Avenue Corridor

This afternoon we are going to take a trip outside the CBD

Let's take a ride on Metro's Red Line.
Our destination: Tenley Town and Friendship Heights .
Our focus… to share the development stories of two major mixed use projects that are transforming the Wisconsin Avenue Corridor.

Joining us today are representatives from two skilled development teams, who, thinking outside the box, have undertaken mixed use development projects involving

complex land assembly
challenging site planning issues
intricate financing
careful orchestration of surrounding neighborhood organizations and
intricate planning review processes

At the Tenley Town Metro stop is Cityline, developed by Roadside Development and leased by Madison Retail Group.

This mixed use project is completing construction. It has created a neighborhood anchor by introducing a vital mix of regional retailers and and over 200 upscale condominium units. With only a few residential units to sell and two major retailers in full operation, Cityline is the story of what to do.

Here to tell us the story of the Cityline for Roadside Development is Richard Lake

Richard specializes in retail development in both urban and suburban settings
He has represented dozens of landlords in their retail developments and he is recognized for his talent for working with development teams and optimizing a project's full potential
Richard is a native Washingtonian and an active member of the business community for over 20 years.
Richard is a founding partner of the The Retail Group, Madison Retail Group and Roadside Development.
Richard has participated in the development of over 5,000,000 s.f. retail and mixed use projects with an additional 3,000,000 s.f. of retail and mixed used projects in the pipeline
He is recognized for his ability to capture the retail energy in a project to bridge and enhance offices, residential and government and public uses within or adjacent to the projects.

At the Friendship Heights Metro stop is Wisconsin Place. This prime, 8 acre site is located in the heart of the prestigious Chevy Chase neighborhood. With two cranes filling the Friendship Heights skyline, construction is in Phase 1.

The development of over 1.1 million square feet of retail, regionally focused, will deliver a mix of

Nationally recognized retailers
A super size grocery store
Class A office space
Over 400 units of luxury rental housing
A Community Center with a sizeable fitness focus
Structured parking for 1,750 vehicles and
Careful attention to urban amenities such as landscaped walkways and open space

Here to tell the story of Wisconsin Place is David C. Gilmore of New England Development. David has been responsible for the permitting of Wisconsin Place and directs with their partners Archstone-Smith and Boston Properties the development of the project.

David has been with New England Development for over 10 years. His projects include

Two Canal Park Office Building in East Cambridge , MA where he was responsible for development and leasing and the 200,000 s.f. expansion of the Cape Cod Mall in Hyannis, MA. For this project David was responsible for permitting and redevelopment.
Prior to joining New England Development, David was Vice President for the Druker Company where he led the development of The Heritage on the Garden in Boston 's Back Bay. This was an award winning 500,000 s.f. project comprised of office, retail and residential development.

Click here to view the PowerPoint presentation.

EVENT SUMMARIES

Networking Roundtable: REITs

The CREW Washington DC Networking Committee organized a program on Real Estate Investment Trusts (REITs) in DC. The event took place on Thursday, October 27 th at the Function Room at the Chevy Chase Bank in Bethesda. The panelists included Roger Waesche, CFO of Corporate Office Properties Trust (OFC), Douglas Donatelli; CEO of First Potomac Realty Trust (FPO) and John Schissel, CFO of Columbia Equity Trust (COE). All three REITs are publicly traded on the NYSE. The moderator for the panel was Eric Lawrence, SVP Real Estate Banking at the Chevy Chase Bank.

The panel discussion focused on the growing participation of REITs in the dynamic Washington, DC. market and the company strategies for succeeding in this competitive environment. There was emphasis on the private versus public format of REITs and discussion about the number of public REIT's that are currently going private as a result of the excess capital in the market.

The program was very well attended and the audience included a mix of CREW members, developers, attorneys and others interested in the topic. It is interesting to note that about 50% of the audience was comprised of men. Approximately 70 people attended the event. The program started promptly at 8:30AM and concluded at 9:30AM, networking breakfast was served from 8:15 to 8:30AM.

This event had the most attendance of any Networking Event held to date. It was a very informative program. Thank you to Chevy Chase Bank for hosting this event.

Networking Event: Wine Tasting

Networking Event: Concert at the Hirshorn Museum and Sculpture Gallery

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