WASHINGTON, DC-Forest City Enterprises has inked leases with two local government agencies for its Waterfront mixed-use project. Totaling 500,000 sf, the two leases represent a significant portion of total commercial space that will be available. Construction is scheduled to begin early next year on the project, which includes 1.2 million sf of office, 110,000 sf of retail and 1,000 residential units.

The District of Columbia’s Office of the Chief Financial Officer and the Department of Consumer and Regulatory Affairs are scheduled to occupy 401 M St. SW in 2009.

The Waterfront project is jointly owned by Forest City Washington, Vornado/Charles E. Smith and Bresler & Reiner Inc., according to Forest City’s website.

Forest City’s other major DC initiative, the Yards or Southeast Federal Center as the project was formerly called, is also progressing, the company says. The 42-acre mixed-use project has now received approval for the master plan and expects to begin infrastructure development in late 2007 or early 2008. The $1.7-billion redevelopment project will include 2,800 residential units, 1.8 million sf of office, 400,000 sf of retail as well as a public park and river walk.

The company did not return calls in time for deadline.

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