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760 Million Dollars Waterfront Station Tops Out at Former Waterside Mall

Friday, March 13, 2009
Press Advisory for Immediate Release

(Washington, DC) – Mayor Adrian M. Fenty today joined leaders of the Waterfront Associates development team to celebrate the topping out of Waterfront Station, a 2.5 million square foot mixed-use project on the site of the former Waterside Mall in Southwest.

“This is a huge milestone in a project that will bring an incredible transformation to Southwest”, Mayor Fenty said. “Despite the rough economic climate, this project is right on track and it makes me very proud to say the District government played a critical role in making it a reality.”

The project is being developed by Waterfront Associates, a joint venture between affiliates of Forest City Washington, Inc., Bresler & Reiner, Inc. and Vornado/Charles E. Smith.

Located at M Street, SW and 4th Street, SW, Waterfront Station, is a multi-phase redevelopment project that will ultimately consist of 1.2 million square feet of new office space, about 1,000 new residential units, underground parking and a minimum of 110,000 square feet of retail space. The Waterfront/SEU Metrorail station is adjacent to the project site and the office buildings have been designed and are being constructed to LEED Silver standards.

The first phase includes the two similarly-sized office buildings located on each side of the restored right-of-way for 4th Street, SW, which is also a part of the project. Including the street-level retail space, these first two buildings total 628,000 square feet and will be completed in 2010.

The office component is fully leased to the District of Columbia. It will house workers for the Office of Chief Financial Officer, Office of Planning, District Department of Transportation and Department of Consumer and Regulatory Affairs. The retail component will include two existing retailers on the site—Safeway and CVS—along with several additional, new dining and neighborhood service-related retail tenants. In all, approximately 85,000 SF of retail space will open as a part of the project’s first phase. The buildings are expected to be completed in March 2010.

More information about the project is available at