The property will sit at the edge of the Key Bridge, a road that provides a literal visual and physical link to Washington, DC. With construction under way the developers expect to complete the project in August of 2007. While those involved are not divulging the development cost, industry insiders suggest the project will cost in excess of $250 million to realize.
Waterview will be known for more than just its size and its unique Pei, Cobb Freed and Partners-designed architecture. Comprised of two soaring towers of 24 stories and 29 stories each, the property will feature the two tallest commercial structures in the Washington, DC area. The 24-story building will contain 633,000 sf of class A office space that was pre-leased in its entirely six months ago by business research and analysis provider the Corporate Executive Board for a 20-year term.
The other structure will be home to 136 upscale residential condominium units, as well as the four-star 155-room Palomar Hotel. A fourth-floor terrace with a restaurant will serve as a bridge between the two buildings. Waterview will also offer about 11,000 sf of retail space spread out among the office, residential and hotel segments; that space will include an additional restaurant, as well as room for daily needs retail offerings, a spokesperson for the JBG Cos. tells GlobeSt.com.
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