Rendering for 965 Florida Avenue.
MRP Residential and The JBG Companies announced Monday that they have signed a letter of intent to form a joint venture to develop 965 Florida Avenue NW (map). And that means that the U Street Corridor will likely eventually get a Harris Teeter.
Back in July, the Deputy Mayor for Planning and Economic Development (DMPED) gave the go-ahead to the team made up of MRP Realty, Ellis Development Group to redevelop the sought-after Florida Avenue NW parcel. JBG was on one of the teams that lost out on the bid. The initial plans that the MRP/Ellis team had in mind for the site include a 370,000 square-foot mixed-use building with a residential component and a market made up of stores and small grocers on the ground-level.
Rendering of planned retail.
“The JBG-MRP co-development team plan to work with District officials and members of the community and plan to provide a W Street connection and bring a full-service grocery to the neighborhood,” James Iker, a managing partner with JBG, said in a press release. “Our partnership has crafted a venture that will deliver these critical neighborhood needs and meet established city goals to transform the area. We are excited to be working again with MRP.”
The mention of a full-service grocery refers to the Harris Teeter store that JBG had in its original plans. With the new joint venture, it appears that is back on the table.
Rendering for 965 Florida Avenue.
Update: From MRP Residential spokesperson Julie Chase: “We have not signed any leases, but a grocery of that quality and scale is what we are targeting.”
This article originally published at http://dc.urbanturf.com/articles/blog/mrp_to_collaborate_with_jbg_on_965_florida_avenue_will_bring_harris_teeter_/8078
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