Best Real Estate Deals: The Park Kennedy, Best Multifamily Development

When the D.C. government started its hunt in early 2008 for developers willing to tackle 68 acres near the obsolete RFK Stadium along the Anacostia River, more than a few observers were skeptical that this slice of Hill East would ever be a thing.

At the time, then-Mayor Adrian Fenty called D.C.-owned Reservation 13 the “last major piece” of development along the District’s eastern waterfront, though the Great Recession temporarily derailed the appetite for a risky large-scale development opportunity.

Thirteen years later, Donatelli Development and Blue Skye Development delivered the first phase of what now seems like a no-brainer development. The Park Kennedy’s elegant apartment and retail building looks as though it has always been there, sitting above the entrance to the Stadium-Armory Metro stop.

But to arrive at this point, the developers had to win the new post-recession bid with the city, contend with the demolition of the former D.C. General Hospital, coordinate with…

Read the full story from the Washington Business Journal.

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