After delay, D.C. Council OKs Southwest waterfront land deal

For two years, Monty Hoffman saw his Southwest waterfront plans battered by aggrieved landowners, politicians and newspaper headlines.

But Hoffman and his development team always had the support of residents, and that showed when a land deal for the $1.5 billion project finally came up for a vote Dec. 16. The D.C. Council passed it unanimously on a furious last day of voting for the year.

Now D.C.-based PN Hoffman Inc. and its partner, Baltimore-based Struever Bros. Eccles & Rouse, will start the new year with a huge challenge: landing financing for a project that could entail 770 housing units, 700,000 square feet of offices, three hotels, 280,000 square feet of retail and 150,000 square feet of cultural attractions.

“This very important project will be a landmark for our region and carries enormous responsibility,” said Hoffman, chief executive officer, in a statement released by the development team. “Our collective concern for the success of this project is very real, and we are pleased that all sides have come together. We can now focus on the matter at hand — moving this vision forward.”

Source: Washington Business Journal. View Article.

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