CityCenter DC Project Update

Yesterday, the CityCenter DC Residential Advisory Committee (RAC) met to discuss developments in the project designed for the Old Convention Center site.

Progress had stopped for several months, but the project, which includes substantial office, residential, hotel, retail, and restaurants, now appears to be moving forward.  The project has all needed approvals from the Department of Consumer and Regulatory Affairs (DCRA).  They have hired a general contractor (Clark/Smith).

Two key pieces moving forward are firming up a commitment from a major office tenant, which drives the economics of the entire project, and obtaining financing.  There is a letter of intent for the office tenant (reportedly law firm Skadden & Arps, althought this was not confirmed at the meeting).  The developers are also in discussions with an investor with interest in financing the entire first phase of the project.  They hope to have an agreement in place this summer.

One June 21, the developers will hold a meeting with the subcontractor community at the Embassy Suites.  They hope to begin hiring subcontractors in July or early August and have all subcontractors hired by the end of October 2010.

There are no letters of intent regarding the retail space at this time.  Active recruitment of tenants would not occur until after the major office tenant is finalized and financing is in place.  They will also seek a hotel operator that does not have a presence in this area.

Phase 1, which would include 2 condos, office space, extension of 10th and Eye Streets through the site, a park at the northwest corner, and the substructure under this area would begin in January 2011 in the best case scenario.  This portion of the project would be completed in the 2nd or 3rd quarter of 2013.

Phase 2, which includes the 1,200 room hotel, additional retail, and Gould parcel on the north side of the lot, would begin 15-18 months after initiation of Phase 1 (early to mid 2012).

The RAC discussed the park for the NW corner of the site, preferring it to be lively and attractive to community, particularly children and not a "monument"-type park.  In addition, the public art along New York Avenue between 12th and 13th Street NW would be extended eastward to Mount Vernon Square.  The developers have hired a consultant to assist with this process and the RAC will be involved as well.

Finally, the RAC formed two committees.  ANC 2C Chair Doris Brooks will lead an Employment and Training Committtee responsible for outreach to the community on job opportunities related to the project.  Windy Abdul Rahim of Councilmember Jack Evans office and Leroy Thorpe of the East Central Civic Association will serve on this committee.  Alex Chi of the Chinatown Revitalization Council will chair a Local Small Business Committee and work with Meredith Moldenhauer of the Downtown Neighborhood Association and a representative of Councilmember Kwame Brown's office.