WASHINGTON, DC—The development team of the Peebles Co. and the Walker Group has been chosen by DC Mayor Vincent Gray to build a new 200-room hotel and 60 housing units at 5th and Eye streets.
The Peebles-Walker team bested nine other companies for the project to be built on city-owned property in the Mount Vernon Triangle, according to the Washington Post.
Peebles. Co, Chairman and CEO is DC native R. Donahue Peebles, which is headquartered in Miami, while the Walker Group is based in Bethesda, MD.
“The Peebles Corporation and Walker Group will transform this valuable site into a thriving and productive asset that will serve the District of Columbia and beyond,” Mayor Gray states in a press release.
A Peebles Co. spokesman says that the developer's chairman and CEO is “proud to return to my hometown, the city that launched my career and served as the foundation for what is now the multi-billion dollar real estate portfolio of the Peebles Corporation, by bringing a transformational development project that will serve as an economic engine for permanent jobs and opportunities for the city's youth as well as minority- and women-owned businesses.”
The project is estimated to create 900 construction jobs and 400 permanent jobs upon completion. See story in the Washington Post.
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