Mayor Fenty, Councilmembers Jim Graham and Muriel Bowser, Deputy Mayor Valerie Santos and CVS/pharmacy executives celebrated the opening of the chain's new location near the Petworth, Park View and Pleasant Plains neighborhoods.
(Washington, DC) - Mayor Adrian M. Fenty joined Councilmembers Jim Graham and Muriel Bowser, Deputy Mayor for Planning and Economic Development (DMPED) Valerie Santos and CVS/pharmacy executives to celebrate the opening of the chain store's new location on Georgia Avenue near the Petworth, Park View and Pleasant Plains neighborhoods.
"I am thrilled that my Administration's commitment to the transformation of commercial corridors like Georgia Avenue has resulted in developments that bring much needed goods and services to residents of this neighborhood," Mayor Fenty said.
"This is yet the latest piece of economic development on our Georgia Avenue corridor," said Councilmember Graham. "It is a vital cog, as we match CVS/pharmacy with our Senior Wellness Center just blocks away."
Conveniently situated near the Georgia Avenue/Petworth Metro station, the 10,180 square foot convenience store includes a full service pharmacy, health and beauty departments, food and digital photo processing.
"The opening of this CVS/pharmacy is just the latest sign that the Park Place development is attracting high-end, stable economic activity to Georgia Avenue," said Councilmember Bowser. "In June, the local Sala Thai restaurant chain opened an outpost nearby and soon they will be joined by a coffee shop to create a more vibrant commercial center."
The development team of Petworth Triangle LLC is an affiliate of LaKritz Adler and will lease the property to CVS/pharmacy for 25 years.
"DMPED is committed to the revitalization of this Great Street and glad to support the addition of CVS/pharmacy to the Georgia Avenue corridor," said Deputy Mayor Santos. "Neighborhood-serving retail is an essential building block of the community and this project will be sure to provide value to the surrounding neighborhoods and residents throughout the District."
The Office of the Deputy Mayor for Planning and Economic Development (DMPED) contributed $2 million in tax increment financing (TIF) funds towards the project through the "Great Streets" initiative. Georgia Avenue is a designated "Great Streets" corridor, part a District effort devoted to the transformation of nine under-invested corridors into thriving neighborhood centers.
Neighboring projects with District support include the 200,000 square foot Park Place residential and retail development, a Senior Wellness Center on Georgia Avenue and a new restaurant opening by the owners of U Street's Marvin.