The project RFP was first awarded in 1999, but the first team could not get the project off the ground. A second RFP was awarded in 2002 to the current team, a public/private partnership consisting of Lowe Enterprises, Neighborhood Development Company, Bundy Development Corporation and CIM Group. This group was able to convince the anchor store, Safeway, to come on board.

As with most projects, especially with a public/private partnership, there was a cobweb of stakeholder issues that needed to be sorted through. However, none of the obstacles were insurmountable and in the end, Lisa noted that the key was maintaining the relationships within the team and focusing on the primary goal, the success of the project.

The legal structure was also complex. At the start of the project, Wendy received a monumental document to review and mark up. She decided to respond by bringing up specific issues that needed to be negotiated, rather than spend the hours required to mark up the document. One of the key elements to the deal was the ADU (affordable dwelling unit) requirement. The units must remain affordable for 30 years. This has a major cost impact to the overall project. The other was in the transfer provisions. Although a ground lease was the preferred arrangement, it would be a difficult sell for the condo market. In the L Street building, all the condos will be conveyed by deed. In the K Street building the parking associated with the condo will be conveyed by deed with the condo. Sixty percent of the revenue for the project will be from the condos. In spite of all the costs, the partnership is happy with the overall finances of the project.

The bottom line, relationships make the deal. In the final analysis, this is a high profile project, which will add many neighborhood services to the area. The city too has been cooperative and has contributed to the streetscape and overall success of the project.