“CityMarket at O, $300 million HUD-financed, 2400 job project starts Friday”

Rendering courtesy of Roadside Development

From a press release:

“Roadside Development , the community-focused Washington, D.C.-based real estate development firm, along with Mayor Vincent Gray, Acting Assistant HUD secretary and Federal Housing Administration (FHA) Commissioner Carol Galante, and District of Columbia Congresswoman Eleanor Holmes Norton, will officially commemorate the commencement of work on CityMarket at O, a one-million square-foot mixed-use development in the historic Shaw neighborhood at 7 th and O streets NW on Friday, November 18 th at 10 am.

The development project, a landmark project for Housing Urban Development (HUD), is the only mixed-use development (and non-infrastructure project) to be fast-tracked for funding by the Obama administration. A key component in the revitalization of the Shaw neighborhood, CityMarket at O will boast 635 residential units, 84 of which are set aside for seniors which will also be affordable, 401 market-rate apartments, and 150 high-end condominiums.

The event will include a dramatic start of construction: the demolition of one of the walls of the former Giant grocery store. This project will include the restoration of the historic 1881 O Street Market Building. Like Eastern Market in Capitol Hill, the building was one of the five original brick market buildings in Washington. 1881 O Street will be restored to house a flagship 72,000-square-foot Giant Food supermarket. The development will also include retail and restaurants, a 182-room Cambria Suites hotel, over 500 vehicle parking spaces, 300+ indoor bike parking stalls, and a 270-linear-foot rooftop dog park.

CityMarket at O is estimated to bring 1,000 new residents to the Shaw neighborhood. Over 2400 jobs will be created, from construction jobs to factory jobs and permanent jobs on site. This does not include jobs that will be generated by the local economic activity brought to the Shaw community by CityMarket at O.

Construction on the Giant Food supermarket is slated to be complete Summer 2013. The 182-room hotel and 401 units of market rate rental housing will open in early fall 2013. Completing the project, the 84-unit affordable senior housing building and 150-unit condominium will be delivered in fall 2014.”

We last spoke about the O Street Market here.

Photo of Butcher at original O St Market, courtesy of Roadside Development