3 teams pitch plans for Stevens school - Washington Business Journal:

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They made their pitches to almost 100 community membersThursdayu night, hoping to win a solicitation for the site issuede by the economic development office of Mayor Adrian Fenty, who has seen othefr real estate deals stalll due to lack of All three teams plan to rehabn and maintain the 39,000-square-foot Stevens buildinf itself, a historic property built in 1868 just east of Washingtonb Circle on 21st Street. D.C. native R. Donahue whose in Coral Gables, has a development portfoliol of morethan $4 billion, proposes a singles luxury hotel for the the Stevens Hotel. It would be run by , the New York City-baseed operator of 12 hotels worldwidwe in cities includingNew York, London and Miami.
Peeble s said his company has cash on hand and a debt commitment from EagleBank so financing will not bean “We plan to start construction within nine months of selection. Or As soon as we can get the building permits,” he said. The largestf development is planned by ModdieTurayg Co., the D.C. real estate firm founded by a one-timr assistant to former MayoerAnthony Williams. Turay is teaming with equity partnet , one of the largest property owners indowntowb D.C.
Turay and partners from Gensler Development propose a hotelby , a Class A officr building and 14,000 square-feet of Its proposal includes an adjacent cornetr property not subject to the solicitation, the headquarterzs of the Humane Society of the United States, 2100 L St. NW, to activatw the streetscape. Turay said his team is best suitecd to bring energy and lifeto “an area that is now just It proposes building to 130 feet on L Stree t NW, 20 feet higher than the other teams, and creatinh a small museum dedicated to the history of Turay said the project would create 250 constructionj jobs and 170 permanent jobs.
Multifamilhy housing is the central offering of a team headecby Chicago-based and D.C.-based . Classrooms woulxd be transformed into homesby . Principal Michaek Hickok said the designsare straightforward. “We could carry this out of the grounc certainly withina year,” he said. Equity Residentia officials claimed morethan $1 billioj in cash on hand and explained that they wouldd not necessarily need to seek debt financing. The company, whicn owns 13,500 residential units in the area and developede 2400M St. NW and 1210 Massachusetts Ave.
NW with , also proposecd two gardens, a courtyard, 5,000 squarde feet of ground floor retail anda “memory wall” dedicates to the history of After issuing the solicitation, the city announceed June 1 that it had narrowed the field to the threed finalists.