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WASHINGTON, DC-Mayor Adrian Fenty was among the local luminaries attending the kick-off this morning of the latest Business Improvement District in Washington–the Capitol Riverfront Business Improvement District. The Capital Riverfront BID includes the rapidly developing Ballpark District along with 100 blocks bounded by I-395, the Anacostia River, 15th Street, SE, S. Capitol Street, the Fredrick Douglass Bridge and extending into Buzzards Point to Second Street, SW and Q Street, SW between Second SW and Half Street, SW and P St., SW between Half Street, SW and S. Capitol Street.

Thus far, the BID planning process has been led by a temporary board of directors established with the filing of the BID’s Articles of Incorporation with the District Government. Board members include Steve Gewirz, of Potomac Investment Properties; David Jacobs, from the JBG Cos.; Amy Phillips, from Monument Realty; Deborah Ratner Salzberg, who is with Forest City Washington; and Chris Smith of William C. Smith & Co. Permanent members will be elected within 120 days.

Even without the marketing and central development coordination provided by a BID, the Capital Riverfront, home to the new baseball stadium under construction, has attracted hundreds of millions of dollars worth of multifamily, retail and office investment in recent years. This includes Monument Realty development on Half Street north of the stadium and four multifamily projects by JPI, including those under development at 70 and 100 Eye St. and 909 New Jersey Ave.

Also, San Francisco real estate investment manager MacFarlane Partners is making a multimillion-dollar commitment to the DC market, with plans to invest some $300 million to 400 million worth of projects in Southeast Washington.

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