September 19, 2008
5th And Eye Announced In Mount Vernon Triangle
202-997-8677
jchase@chasepr.com
FOR IMMEDIATE RELEASE
Washington, D.C.– Mayor Adrian Fenty announced that the District government has selected the development team led by the Donohoe Companies to build a 260-room luxury hotel, 166 apartments, jazz club, and retail on the vacant city-owned lot at 5th and Eye Streets, NW.
“This project is the perfect gateway between our bustling Chinatown and emerging Mount Vernon Triangle neighborhood,” said Mayor Fenty. “It is also a great example of a development team working with community leaders to put together the best project for their neighborhood.”
The 475,000-square-foot project, called Arts at 5th and I, will be anchored by a ME by Melia hotel from Barcelona. It will also include a music venue call the Boisdale Jazz Club from London, a bike shop, a bookstore, café, and the Zenith Art Gallery – a local gallery from 7th Street, NW.
The development will also feature 166 apartments, where 50 units will be reserved for affordable renters earning less than 60 percent of the area median income. The developer has also proposed a 238-space parking garage underground.
The development will be headed up by Donohoe, and it will also include Holland Development Group, Harris Development, and Spectrum Management.
The 5th and Eye Street site was transferred to the District government in October 2007 after the dissolution of the National Capital Revitalization Corporation (NCR). The Office of the Deputy Mayor for Planning and Economic Development is managing the former NCRC’s real estate portfolio, and they issued a solicitation for proposals earlier this year.
Founded in 1884, The Donohoe Companies is the oldest full-service real estate organization in the Washington, DC, region. Donohoe has developed and built billions of dollars of Washington’s premier office, hotel, retail, industrial, and residential projects. They provide a full range of building management, brokerage, and maintenance services to major institutions, corporations, and associations. Today, the Donohoe Companies are guided by the fourth generation of the Donohoe family. To learn more about the Donohoe Companies, visit www.donohoecompanies.com.
The Mount Vernon Triangle Community Improvement District is a nonprofit organization established to enhance the quality of life for residents, visitors, employees, and property owners by providing clean and safe services, marketing, fostering planning and economic development, as well as preserving green space in Mount Vernon Triangle.
MVTCID’s boundaries comprise 15 blocks within the east end of downtown Washington, D.C. bordered by Seventh Street on the west, New York Avenue on the north, New Jersey Avenue on the east, and Massachusetts Avenue, 6th Street, and K Street on the south. Over 650,000 square feet of new properties have been developed in the Triangle, with another 260,000 square feet of land under construction. To learn more about the Mount Vernon Triangle Community Improvement District, visit www.mountvernontriangle.org.
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