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WASHINGTON, DC-Skanska USA Commercial Development and Grosvenor Americas both liked the potential of the stretch of block on the Capitol Riverfront that runs between M and N streets and is fronted by First Street. So they decided to cooperate—but not partner—on complementary projects there that will eventually result in a 650,000-square foot mixed-use project. “This is not a JV,” Rob Ward, president and regional manager of Skanska USA, tells GlobeSt.com. “Rather it’s collaborating neighbors buying adjacent parcels at the same time.”

So, Skanska is developing an 11-story, 224,000-square-foot office building that will be designed to LEED Platinum standards and of which Skanska will be the sole owner. For its part, Grosvenor is developing a 170-key hotel, two residential buildings with 285 units, 23 of which will be affordable dwelling units, and 43,000 square feet of retail space on the ground level of the office, hotel, and residential buildings, as well as in a separate two-level structure that will be on the corner of 1st and N streets. The two companies are collaborating on design and construction elements, Ward says.

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