Property Group Acquires Capitol Crossing Fee Interest

WASHINGTON, DC-Capitol Crossing, a unique mixed-use development planned for the three blocks of the recessed portion of I-395 in Downtown Washington, has taken a major step forward. Property Group Partners has acquired the fee interest in three blocks of the project and plans to begin development in 2013.

The project is among the most ambitious–to say nothing of innovative–proposed for the District. The project will be built, in part, on a platform that will be constructed over the Interstate connecting Capitol Hill to the East End.  Designed for LEED Platinum certification, the project will span Massachusetts Avenue on the north to E Street on the south and cover the expressway between 2nd and 3rd Streets NW. Ultimately it will create seven acres of property when completed. The specific financial terms have not been disclosed.