Vincent Gray, in one of his final acts as D.C.’s mayor, has selected a team to lead the first phase of the massive St. Elizabeths east redevelopment.
A joint venture of Redbrick LMD and Gragg Cardona Partners was chosen over three competing bidders — the St. Elizabeths Collaborative (Friedman Capital Advisors, Beztak Cos., Foxhall Partners and Gold Krown Fund); Four Points Developments; and the Partnership for Collaborative Innovation (Thoron Capital, Creative Opportunities Venture Inc.).
The Redbrick-Cardona pitch calls for 716,000 square feet of commercial space, 425,866 square feet of “innovation” uses, 122,000 square feet of retail, 1.1 million square feet of residential and a 150- to 180-key hotel. The team also includes homebuilder NVR Inc., JBG Rosenfeld Retail and Perkins Eastman.
In a statement, Gray said his administration laid the groundwork “for what is possible on this historic campus” with the opening of the Gateway DC Pavilion and R.I.S.E. Demonstration Center in the former St. E’s chapel.
“By selecting a master developer, we can move even closer to realizing that vision and creating an innovative space that’s unlike any other in the District of Columbia,” Gray said.
The first phase of the St. E’s redo is generally focused near the Congress Heights Metro Station. It will include space for three anchors — including a Microsoft Innovation Center — residential, retail and office development.
None of the development can happen until the campus’ infrastructure (roads, sewers and all utilities) is rebuilt, a $100 million endeavor that has yet to begin.
Redbrick and Gragg Cardona anticipate that buildout will take a decade-plus, but it has pledged to create 9,000 new jobs and 1,000 new homes, to spur $700 million in private investment and generate $400 million in new tax revenue.
“We want to create a diverse, sustainable and complementary neighborhood where residents will be able to work, play, learn, innovate and be entertained in our new development,” Louis Dubin, Redbrick managing partner, said in a statement. “We will develop over 1.6 million square feet of space for office, retail, residential, education and innovation uses. Equally important, some historic and beautiful space will be returned, under this plan, to its rightful owners — the citizens of the District of Columbia.”
Redbrick is a D.C-based real investment management and development firm whose portfolio include The Beacon of Groveton, The Grove at Arlington, Parc Reston, Parkside at Dulles and Georgetown Plaza,
. Gragg Cardona lists The Ellington, Kenyon Square Condominiums, Highland Park and Park Place in its project rundown.
