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Forest City Awarded Southeast Federal Center Redevelopment in Nation's Capital.
Business Editors
CLEVELAND--(BUSINESS WIRE)--Jan. 30, 2004
Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:FCEB) announced today that it has been selected by the U.S. General Services Administration to redevelop the Southeast Federal Center (SEFC) in Washington, D.C.
Forest City's plans for the adaptive re-use of the 44-acre site include up to 1.8 million square feet of office space, 2,800 residential units, destination and neighborhood-serving retail and a 5.5-acre park along the Anacostia River. Once an annex to the Washington Navy Yard, the SEFC played a key role in the nation's defense by producing ordnance and repairing naval ships during the First and Second World Wars. As such, the site contains a number of historic industrial structures that will be restored as riverfront lofts and condominiums. Up to eight new commercial buildings are also planned, featuring stunning views of the nearby river and U.S. Capitol Dome.
"People who live, shop or work in the Southeast Federal Center area will be part of a promising future, as Washington's plan for restoring the Anacostia waterfront gathers increasing momentum," said Deborah Ratner Salzberg, president, Forest City Washington, Inc. "This site offers tremendous potential for a unique waterfront destination with natural beauty, historic character, high-quality architecture and sustainable design."
A separate, 11-acre portion of the site is presently under development as a new headquarters complex for the U.S. Department of Transportation. Forest City's portion of the site is scheduled to be completed in ...
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