Encompassing 24 acres near Union Station, between FloridaAvenue, Sixth Street, Penn Street and the railroad tracks, New Townat Capital City Market is one of the more ambitious proposeddevelopments in the District in recent times. Its location in thecity's underutilized northeast quadrant also makes it unique--atleast for now.

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One reason Apollo likes the area, according to Jim Simmons,Apollo partner, is its proximity to the rapidly development NOMAsubmarket, an area in which Apollo is alreadyactive.

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Other reasons include its access to transportation and itsaccess to the northeast neighborhoods, which have never been wellserved by retailers, Simmons tells GlobeSt.com.

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Initial plans now call for 3.4 million sf of housing, retail,restaurants, hotels, entertainment facilities and other communityservices. Specifically, there will be 1,600 condominium and rentalapartments, with between 20% and 40% set aside as affordablehousing for renters and buyers.

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The retail storefronts and restaurants, which will stretch formore than one mile, will include 300 shops, an outdoor ice-skatingrink and an entertainment center with a theater, bowling alley androller-skating. There will be two hotels and a new YMCA that wouldoffer such services as a teen center, senior citizen programs, andchild day care center with outdoor playground.

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The Market's historic structures will remain part of the newdevelopment through adaptive re-use. Plans also call for the use ofgreen technology in design, construction and operations.

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The DC Council approved initial plans for the project last year,including provisions that would allow the current merchant propertyowners in the area to stay in the new development.

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Apollo Real Estate Advisors and Sang Oh Development will submita final conceptual plan for review and approval later this year.Simmons says he can't speculate whether the initial plans willchange significantly during these talks. "Eventually, though, wewill come up with a plan that is acceptable to both us and thecity," he says.

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