On May 13th, PN Hoffman and the development group for the Southwest Waterfront signed a Transaction Agreement with a company called SWW, LLC (of which the JBG Companies is a controlling interest) which outlines how SWW will receive one future development site at the Southwest Waterfront in return for relinquishing their existing leaseholds at Phillips and Channel Inn at closing.
This agreement now clears the site control at the Waterfront. The remaining parcels are owned by the District and will be part of the land disposition. The only outstanding leaseholders (long-term) at this point are Capital Yacht Club and Washington Boat Lines – and PN Hoffman is close to finalizing with both leaseholders and should have agreements with them completed this summer.
The design and community outreach phases of the project should be recommencing in September, 2009.
Photo: Concept rendering of proposed Waterfront from SW Waterfront site.
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4 comments:
Can't wait! It is always exciting to hear news about the waterfront.
Any updates on the new H20? I recall hearing earlier this year that it was being reopened as a coffee shop/restaurant.
DC Government and Ms Noell have come to an agreement and were able to move forward as of last Friday, May 29. She will be taking possession of the H2O building on June 10th and will work diligently to open as quickly as possible. The plan to feature a restaurant, cafe and catering venue has not changed.
Awesome!! Thanks for the info...and for the great work you do in keeping us informed here in Southwest.
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