2007-02-01, 09:32

Washington Gateway: hotels in the mixed-use environment

By: Jonathan Groner
The February 2007 issue of Southeast Real Estate Business has a front-page article by Daniel Beaird about Washington Gateway, a mixed-use project that just received approval from the Zoning Commission. The $350 million project will feature two office towers, a 250-unit residential tower, and a 150-room extended-stay hotel. Groundbreaking is set for the fourth quarter of 2007, with occupancy in the first quarter of 2010.

Fred Rothmeijer, a founding principal of the project's developer, MRP Realty, told the magazine that "the hotel is a good use to complement the office component" because "companies won't have to worry about where their out-of-town employees or clients stay."

Beaird writes that a hotel component for a mixed-use development "is the new trend ... as developers look for ways to accommodate not just the everyday employee through residential options, but also the traveling employee or client for a few days."

I would add that there is a shortage of top-quality hotels in that area, which is near the corner of Florida and New York avenues, N.W. The area, called NoMa (North of Massachusetts), is definitely on the way up.

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