Monday, July 23, 2007

Mayor Fenty Announces Development Partner for Former McMillan Sand Filtration Site

Mayor Adrian M. Fenty today announced Vision McMillan Partners will serve as the District’s development partner in redeveloping the 25-acre former McMillan Reservoir Sand Filtration Site at North Capitol Street and Michigan Avenue, NW.

“We have an incredible asset in the McMillan site, but it’s been fenced-off for decades,” Fenty said. “It is time to put this land back into productive use and we’re partnering with a highly capable team that can do just that.”

Vision McMillan was selected among five bidders by the National Capital Revitalization Corp., which is currently being folded into the District’s Office of the Deputy Mayor for Planning and Economic Development (DMPED). The team is led by EYA, a Washington-area developer who is currently leading the redevelopment of the 25-acre Hyattsville Arts District and the 30-acre National Park Seminary. Other members of the team include the Alexander Cos., a development firm nationally renowned for historic preservation projects; MacFarlane Partners, one of the largest African-American-owned real estate investors in the country; the Jair Lynch Cos.; StreetSense; Smoot Construction; and Urban Services Systems.

“We are honored to be selected by the District for a project of this importance. EYA and our team members have a true passion for and deep expertise in completing challenging, urban projects”, said President of EYA Robert Youngentob. “We look forward to working with the District and the community to create a vibrant new neighborhood that respects the site’s history, furthers economic development, and enhances quality of life for District residents.”

The McMillan site is expected to be redeveloped into a mixed-use project that could include residential, retail, office and park space, but there is no current development plan for the site. The project will include affordable housing and 35 percent of the local contracting opportunities must go to certified local, small and disadvantaged businesses (LSDBEs). More than half of all new jobs created must be offered to District residents and at least 20 percent of the equity used to finance the project must come from LSDBEs as well.

1 comment:

Stu said...

The font on this posting is so small, I can't read it. I think it says something about McMillan needing eye surgery.