Forest City Washington broke ground recently on The Yards, a 42-acre redevelopment on property that used be part of the Washington Navy Yard.
The area, formerly called Southeast Federal Center
, will be home to 2,700 residential units, 1.8 million square feet of office and retail space
. D.C. officials estimate that the project will have 3,700 residents and add 7,700 jobs, which would generate $450 million in annual paychecks.
The project will create a $42m public park on 5.5 acres fronting the Anacostia River. Forest City will
construct the park, designed by M. Paul Friedberg and Partners. The park will be dedicated to the District upon completion. [Source: Washington Business Journal]