5th & I Development Site Awarded to Peebles, Walker
Tuesday May 20, 2014
The DC government has announced the selection of Peebles Corp. and the Walker Group to redevelop the parcel at 5th and I Streets, NW into a 189 room hotel, 59 market-rate residences, and 5,200 sf of retail, as well as 100 affordable housing units to be built in Anacostia. The proposal projects the creation of 385 permanent jobs, 650 construction jobs and more than $8 million in new annual tax revenue. As part of the proposal, the team has committed $2 million to upgrade two National Park Service reservations — referred to as Milian and Seaton parks — at the 5th and I Street intersection.