The District has struck a tentative land swap deal with multiple parties, including the U.S. Navy and Park Police, to advance long-awaited plans for Poplar Point, including a $500 million wellness resort to be developed by Austria’s Therme Group.
Also before the council is separate legislation that would authorize D.C. to ground lease a 15-acre parcel at Poplar Point to Therme for 60 years with a 20-year extension option, according to a term sheet. There, Therme plans to build a facility that would span between 400,000 and 600,000 square feet, according to the legislation.
“We’re grateful to Mayor Bowser and the Council for their strong partnership,” John Alschuler, executive chairman of Therme Group US, said in a statement. “Therme DC represents a generational opportunity to create thousands of jobs, deliver meaningful benefits for Ward 8, and help bring 70 acres of world-class parkland to life.”
A former downtown D.C. office building is slated for conversion into an AC by Marriott hotel, the latest in a string of new uses for older buildings…
On the ground floor of the 122-room hotel at 601 Indiana Ave. NW would be a hotel restaurant and bar with seating for 45 and a total capacity of 55 people.
The Dauntless affiliate has taken out a $34.4 million loan from an affiliate of Artemis Real Estate Partners in connection with the planned conversion, per loan documents filed with the D.C. Recorder of Deeds and signed by Dauntless Managing Partner Cramer Williams.
Longtime D.C.-area owner Gould Property Co. is infusing $25M into a large-scale upgrade of 401 Ninth St. NW — a 440K SF mixed-use property in the East End — the company tells Bisnow.
The project includes renovating the four-story lobby while adding a fitness and wellness center offshoot, revamping a two-level, 200-person conference center, and adding an indoor-outdoor penthouse amenity called The Solarium. Work began this month and is expected to be complete next fall.
“It’s well known that there’s a very high demand for high-quality space, whether it’s trophy or Class-A-plus-plus, but there’s a very limited supply,” Barbieri said.
The District-based nonprofit, which seeks to combat hunger and poverty through job training and social enterprise programs, has leased the balance of the retail space along V Street SW. The additional 17,000 square feet, featuring classroom, office, meeting, storage and food prep space, is on top of the 36,000 square-foot space at 2121 First St. SW it began moving into in late 2022.
“It’s amazing to think that this whole block is going to be D.C. Central Kitchen,” Curtin said.