X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The District has broken ground on Diamond Teague Park, an $8-million waterfront park that will link Nationals Park to the Anacostia River. It is one of four water front park projects planned for the Capital Riverfront BID.

The first to formally break ground is Diamond Teague Park–named after a 19-year old member of the Earth Conservation Corps who was murdered in 2003. Located at First Street and Potomac Avenue SE, it is being funded with public money and revenue streams tied to adjacent projects. Diamond Teague will connect the National’s ballpark to a pair of public piers and a 20-mile network of waterfront trails. A 250-foot pier will be built for water taxis and charter boats as well as slips for the ECC and the District’s fire and life safety vessels.

Nearby development projects that are supporting its development include Florida Rock’s one-million-square-foot mixed-used project that connects directly to the West of the park and JBG’s US Department of Transportation headquarters building to the East.

The four river parks or water projects slotted for development in Capital Riverfront, Michael Stevens, executive director of the Capitol Riverfront BID tells GlobeSt.com, are seen as place-makers for this largely undeveloped enclave in the city. “They will build a sense of community and be the focus for community events,” he says.

Still, though Capital Riverfront, like just about every other submarket in DC, has been affected by the economic downturn and credit market crunch. “A lot of projects here have been put on hold, waiting for financing to thaw,” Stevens points out.Projects under construction include Forest City’s Foundry Lofts; Velocity Condos by Cohen Cos.; 55 M Street Half St. by Monument Realty; 909 at Capitol Yards by JPI; and 1015 Half St. by Opus East.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.