
First New Commercial Construction in Historic Anacostia in Fifteen Years
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It has not happened since 1990; new commercial construction in the Historic Anacostia neighborhood. The Anacostia Gateway, LLC broke ground on Tuesday, June 28th on the new Anacostia Gateway office building. This new three-story, 63,000 square foot office building marks the first new construction in the Historic Anacostia neighborhood in 15 years.
The Anacostia Gateway office building, a $19 million development, will offer 14,000 square feet of retail space, 49,000 square feet of Class A office and related space, and 112 sub-grade parking spaces.
This office building is located at the corner Martin Luther King, Jr. Avenue and Good Hope Road, SE . The Anacostia Gateway building will be visible as soon as you cross the 11th Street Bridge.
Anacostia Gateway LLC., whose members include the Anacostia Economic Development Corporation, LLC (AEDC), DRI Partners, Inc. (DRI) and the National Capital Revitalization Corporation (NCRC) was formed to bring much needed new office and retail space to East Washington . AEDC and DRI have been working diligently for several years to bring this particular development to Anacostia. However, NCRC provided the final financial commitment, so that the project could move forward.
"We have this vision that the new Anacostia Gateway office building, as well as the new D.C. Department of Transportation building, will become a strong economic anchor here in Historic Anacostia; bringing jobs and encouraging the growth of local businesses," said Butch Hopkins, President and CEO of AEDC. "We wanted NCRC to join with us, because we knew it has a solid record of being a community partner in development projects."
In the fall of 2004, Anacostia Gateway L.L.C. approached NCRC for its assistance to help get the project off the ground. NCRC is investing approximately $1 million, and is committing an additional $21.5 million in master lease rental income over the next ten years to help open the doors of the new Anacostia Gateway office building. Construction on this new office building is expected to last between 12 to 14 months.
"This is a groundbreaking project for NCRC - this is our first investment in office space and our first large-scale development in Ward 8," said Anthony Freeman, President and CEO of NCRC. "We're making a long-term commitment to Historic Anacostia. We want to make sure that the people, who live and work in this community, share in the value new economic investments create."
The AEDC has spearheaded the development of the Anacostia Gateway site since 1992. AEDC's mission is the economic development of the Anacostia/Far Southeast community of Washington , D.C. The Anacostia Gateway project is to be the catalyst to stimulate development along the Martin Luther King, Jr. Avenue and he Good Hope Road S.E. corridors of Historic Anacostia. As a non-profit community development corporation, AEDC's goals are clear. They are to promote development through the introduction of creative and viable projects, which enhance the quality of life for the residents in the area; and provide resources through its profits to continue funding the development cycle, so that other neighborhood ventures meet the joint goals of the community, and AEDC can be commenced.
The Anacostia Gateway development will be under construction for approximately 13 months. During that time, about 75 temporary construction jobs will be created for community residents. When construction is completed, the development will contain 14,000 square feet of retail space. It is estimated that these stores will not only provide much needed services to the community, but they will also employ on a permanent basis approximately 45 local residents.