Friday, August 24, 2007

Douglas Jemal Does it Again!

This morning a good friend of mine (and my financial advisor) Mario Gabalda with Ferris, Baker, Watts, sent me an article from the Washington Business Journal relating to Douglas Jemal's newest adventure at the former Uline Ice Skating Rink.

According to a Washington Business Journal staff reporter, Prabha Natarajan, Douglas bought the Ice arena for $6 million back in 2004 from Miguel Uline who operated the facility as an ice rink since 1941. Jemal now owns both the arena and the lot next door.

His plans now include turning the former ice arena sight into DC's newest entertainment district complete with retail, residential, office and night clubs. What makes this project so unique is not just that his proposed plans include 1.3 MILLION square feet of potential develop-able space, but the new venture also includes the newest partnership of DC, with Wilkes Company.

Why Wilkes Co? If you look at the map, you'll see that they just happen to own the building across M St NE and were en route to breaking ground when they scrapped their plans to partner with Jemal. WHO WOULDN'T?

Jemal and Wilkes hired Beyer Blinder Belle Architects and Planners LLP from none other than New York to head the planning and development for the site. Their history includes several projects similar to this including the Watchcase Factory Redevelopment in Sag Harbor, NY and a complete architectural study of our Capitol, including lighting, mechanics and aesthetics.

(CLICK THE IMAGE)

What makes this area so unique is the proposed redevelopment of the New York Ave, Florida ave intersection just in front of the new ATF building where Wendy's restaurant is being torn down to install a traffic circle as well as the recent closure of the Sunoco Station for proposed condo development. In addition, Marriott's just broke ground at their hotel site next to Florida and Union Station. Its going to be a mad house over the next few years!!!!!

Jemal is known for revitalizing many others areas of the city including Cleveland Park, 7th St NW @ the convention center, the upcoming Brookland project and more than several Class-A buildings downtown. I only blog on him every other day!

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