Forest City Washington Blends Residential, Retail, Office
Monday, April 7, 2008
Deborah Ratner Salzberg is president of Forest City Washington and a director of Forest City Enterprises. Salzberg, who has a bachelor's degree from George Washington University and a law degree from the University of San Francisco, has worked at the real estate company since 1985.
Salzberg told staff writer Thomas Heath about what the company is working on here and what she sees as the future of the area around the Nationals stadium.
Q What type of development project attracts Forest City Washington's attention?
AWe thrive on urban infill mixed-use projects that blend residential with retail and office. Historically that has been our strength as a company. As the mid-Atlantic hub of Forest City, we're working on projects from Baltimore to Richmond.
On the north side of the D.C. metro area, we're working on an exciting mixed-use project, Konterra, at the intersection of Interstate 95 and the new Inter-County Connector in Prince George's County. Working with our partner, Gould Property Co., we'll be creating a new town center that will include 1.5 million square feet of fashion retail as well as restaurants, residences, office and hotels.
Having lived in the D.C. area for more than 27 years, I am particularly excited about the three large-scale projects we also have under development in Southeast and Southwest D.C. With our partners, we are developing close to 90 acres, including Waterfront Station, where we are under construction on a new neighborhood hub for Southwest. Our first two office buildings there -- which have already been leased by the District of Columbia, a new Safeway and other great stores -- will be opening in early 2010.
The first two buildings have opened at Capper/Carrollsburg [redevelopment project] in Southeast, one of which is dedicated to senior housing and the other to workforce housing. New mixed-income townhouses will be underway this summer. Construction on our largest project, the Yards -- 42 acres situated between the new Nationals baseball stadium, the Navy Yard, M Street SE and the Anacostia River -- is well underway.
Now that Nationals Park has opened, bring us up to date on the status of the Yards.
We've been building roads, laying utilities, grading and building parking lots for baseball. We're just beginning construction on the Pattern Shop Lofts, 170 incredible loft units in the building that used to house the Navy Yard's carpentry shop. This summer, construction will begin on our first retail building and our world-class five-acre waterfront park.
We'll have over 5 million square feet of development including 2,800 residential units, 1.8 million square feet of office and 300,000 square feet of retail.
It took the Gallery Place area around the Verizon Center almost a decade to become a really vibrant commercial center. How long will it take Nationals Park/the Yards?
Currently, the area surrounding the Yards has more than 23,000 people working during the day, and that doesn't count the 40,000 plus who will attend sell-out Nationals games. We just need to provide the stores. By fall of 2009, we will be opening our first 170-unit residential building and the Boilermaker Shops, which will have 45,500 square feet of retail including restaurants, a bookstore and possibly a climbing wall. Simultaneously, our five-acre park will open to the public. All one has to do is head down to the ballpark and count the cranes to realize the baseball district will be the new D.C. neighborhood by fall 2009.
Even with the expansion of the Navy Yard metro station, it doesn't seem like there are enough roads, parking, Metro stations and other needs to accommodate a full-blown development in the area around the ballpark. Will the city need more Metro stations and buses and parking to get everyone to and from the area, even when there is no baseball being played?
Tom, I can tell from your question that you didn't go to the opening game for the Nationals. Traffic flowed and the Metro worked well. The Circulator [bus] is picking up routes in Southeast, and additional bus routes will be added as needed. It is actually faster for me to get to the Yards from Bethesda in the morning than it is to get to my office downtown.
[Editor's note: Heath went to the game.]
Will we see water transportation in the area, like the water taxi service that links parts of the boroughs in New York City?
The Yards park will have a series of beautiful piers, and we plan on having water taxi service.
Do you own Nationals tickets? Does Forest City have a box?
Absolutely, we have a great suite overlooking the Yards and all the cranes in Southeast. After the phenomenal opening, we picked up four seats in the lower bowl as well. I'm hooked and am a Nationals fan -- just don't tell my father, who is a lifelong Indians fan!
What is your ringtone?
Honestly, I don't know my ringtone. I have to keep the phone on vibrate, because when it rings I don't realize it's my phone ringing, and it's rather embarrassing. I do know that when I call my son, "Fat Bottomed Girls" plays. I try not to take offense.
Been on any good vacations lately? I hear you like safaris.
I love to travel anywhere and everywhere with my family. Africa is a favorite place. We've visited South Africa, Botswana, Tanzania and Rwanda. Africa is fascinating, because one can see the most modern cities and the most awe-inspiring natural sites all on one trip. The urban redevelopment of waterfront in Cape Town has great lessons for the future of the Anacostia.
I just returned from meeting my children in Prague. It is a beautiful city that survived World War II with its architecture intact. Today it is a vibrant city that makes great use of pedestrian walkways over its river.
More from Deborah Ratner Salzberg will be available today on the WashBiz blog at www.washingtonpost.com/washbizblog.
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