access in order for developers to orchestrate initial site remediation work including: "removal of underground storage tanks, demolition of the Erhlich Building, erecting fences, placing signage around the site and readying the area for construction."A more ceremonial and celebratory start to construction will soon follow, says Gregory A. O’Dell, Washington Convention and Sports Authority President. "The Authority and the District are finalizing the documentation and preparing to close on the bonds as we anticipate a groundbreaking within the next 30-45 days," he explains. Once construction begins, a build-out of 42 months is anticipated, placing the delivery date in the spring of 2014. While this is not the official groundbreaking, convention center authority spokeswoman Chinyere Hubbard confirms that this is indeed the beginning of construction and an indication of nothing but green lights going forward. There are "no further legal obstacles", says Hubbard, who notes that the WCCA board will officially approve the financing bonds tomorrow.
Last year, Mayor Adrian Fenty signed the New Convention Center Hotel Amendments Act of 2009 that authorized Tax Increment Financing (TIF) and the issuance of bonds, to fund up to $206m in construction and operational costs. Private developers will pick up the remaining portion of the estimated $550 million total cost. With JBG's spat over the project and ensuing lawsuit now ended, today's announcement means the project is officially moving forward.
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