Mayor Joins Minority Business Community to Celebrate First Hispanic-Owned Marriott in the District
Contact: Sean Madigan, (202) 615-2029 (cell); Feras Sleiman, (202) 251-8829 (cell)
(Washington, DC) – Mayor Adrian M. Fenty today joined representatives of Marriott and Finvarb Companies for a ribbon cutting ceremony to mark the grand opening of the new Courtyard by Marriott next to the New York Avenue–Florida Avenue–Gallaudet University Metro Station in the District’s up and coming neighborhood north of Massachusetts Avenue (NoMA). The Mayor also joined members of the minority business community in celebrating the hotel as the first Hispanic-owned Marriott ever in the District of Columbia.
“This hotel represents a triumph for minority business owners and for the District’s 21st century sustainable development goals,” said Mayor Fenty. “An attractive location, state-of-the-art amenities, and outstanding ownership will give guests a world-class experience in our city.”
Situated on a former District-owned property, the $53 million hotel spans eight floors, accommodates 218 rooms and is steps away from 10,000 square feet of street-level retail. In addition, guests can enjoy the convenience of an exterior glass elevator that connects to a neighboring pedestrian walkway leading to the nearby New York Avenue–Florida Avenue–Gallaudet University Metro Station. Finally, an eight-mile bike trail is accessible in the back of Courtyard and runs from the hotel to the US Capitol.
The Courtyard by Marriott is also an example of 21st-century sustainable development in the District. The hotel has a “green” roof that will consist of 100 percent grass when fully grown. The environmentally-friendly roof will be capable of heating and cooling the hotel’s indoor swimming pool which is located directly below it. Courtyard is the second Marriott hotel in the America to have this feature.
As a part of the development agreement negotiated by the District, 25 percent of the construction contracting was done by businesses certified by the District’s Local, Small and Disadvantaged Business Enterprise (LSDBE) program. Additionally, the project financing included a 16 percent equity stake from LSDBE investors.
Finvarb Companies is a Hispanic-owned real estate company, and its development partners, Harmon, Wilmot, Brown & Bagwell, LLP and Welburn Development, are both locally based African-American-owned companies.
The hotel is the first in the District’s emerging North of Massachusetts Avenue (NoMA) neighborhood, which lies between Union Station, the Florida Avenue Market, Eckington, Bloomingdale and Northwest One. The NoMA area is expected to produce more than 20 million square feet of new development, $500 million in new tax revenue and 36,000 jobs during the next 10 years.
For more information on various exciting development projects in the District, visit the Deputy Mayor for Planning and Economic Development website: dcbiz.dc.gov and the Development Blog at dcdevelopment.typepad.com.