Designated as a resort, National Harbor will sprout up on a 300-acre parcel along the Potomac River, where one mile of the development will sit right on the waterfront. When construction wraps up in early 2008, if not before, the destination will feature a 1,500-room hotel with a 24,000-sf spa and health facility, a 400,000-sf convention center as well as upscale retail space at the Mainstreet and Waterfront sites.
"National Harbor will be the first and largest resort hotel and conference center on the east coast," County executive Jack Johnson notes. As for revenue, National Harbor is expected to generate $750 million in tax revenue over the next three decades. Moreover, the Peterson Cos. has committed to organizing a community outreach program with the county that will yield a projected $3.5 million over a 10-year period for community improvement. It is estimated construction of National Harbor will begin later this year.
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