THE YARDS: Grosvenor Americas Unveils Capitol Riverfront Mixed-Use Development

GROSVENOR AMERICAS UNVEILS CAPITOL RIVERFRONT MIXED-USE DEVELOPMENT

“F1RST” on First Street SE to have Marriott Residence Inn Taylor Gourmet, Chop’t plus other retail

WASHINGTON, D.C. [April 8, 2015] – Grosvenor Americas (Grosvenor), a property development and investment company with 1.9 million square feet of office, retail, and hotel space in the Washington, D.C. metropolitan area, today, in partnership with McCaffery Interests, unveiled the brand of their new mixed-use development at the Capitol Riverfront in southeast D.C.
F1RST, located directly north of Washington Nationals baseball stadium in the newly revitalized Capitol Riverfront District, will be a 450,000 square foot, mixed-use community designed by architect Hickok Cole that will offer 325 rental apartments, a 170-room Residence Inn by Marriott hotel and nearly 25,000 square feet of retail space adjacent to Nationals Park baseball stadium.

“The Capitol Riverfront District has emerged as a prime example of a neighborhood that represents D.C.’s urban renaissance,” said James Patillo, chief development officer of Grosvenor Americas. “We saw a similar vibrancy when we developed District Apartments along the 14th Street corridor and we are excited to embark on our next development, F1RST. The project is uniquely located as it has an intimate outdoor rooftop theatre with a view of the ballpark, in addition to the highest quality interiors and amenities. With our partners McCaffery Interests and Clark Enterprises we are creating a community that embraces the adjacent Nationals Stadium, the riverfront trails, Yards Park and the growing vibrancy of southeast D.C.”

The site of F1RST is two blocks from Navy Yard Metro Station and bus stops, within walking distance of both a Harris Teeter grocery store and the future site of a Whole Foods, as well as a growing number of boutique restaurants and breweries. During today’s unveiling ceremony, Grosvenor stated that the project’s name was inspired by the area’s cultural and lifestyle components. The creative philosophy behind FIRST’s campaign is where the best things in life come together. The tagline “Everything Starts at F1RST” represents the desire for F1RST to become a destination connecting individuals to amenities not just within the building, but within the growing neighborhood.

“For prospective renters looking to join the excitement of the Capitol Riverfront area, F1RST is a grand slam, complete with a 5,000 square foot gym and an expansive pet-friendly rooftop with cabanas and a resort-style pool,” said Dan McCaffery, CEO of McCaffery Interests. “F1RST capitalizes on the explosive growth of the area and puts residents in the heart of an active community that offers top-rated restaurants and breweries, a myriad of cultural events and, of course, America’s favorite pastime.”

McCaffery Interests will provide project, construction and property management for the residential portion. Clark Enterprises is an equity partner in the residential and retail component; Capital One is providing the construction financing for the residential and retail component, along with TD Bank and United Bank. The Residence Inn will be managed by Hospitality Partners..