The Arts at 5th & I: Closer Than They Were

Development partners Donohoe Companies and Holland Development of the highly anticipated high-end hotel, retail outlets, and jazz club crowned "The Arts" think they are close to wrapping up negotiations with DMPED over the disposition of the currently District-owned site at 5th and I Streets NW. The heart of the project is a 260-room ME Hotel from luxury Spanish hotelier, Melia that promises to "seduce the open mind with art, design, music, and cuisine" (according their website). Perhaps more exciting for the neighborhood is the included Boisdale Jazz Club – the first US location from the London-based chain of nightclubs. It literally packs the previously promised music, cuisine, and libations into one smooth package. Also providing cuisine will be Cappuccinos, a "unique urban style cafe." The mind-seducing design is courtesy of Shalom Baranes, while the art will hang in what will become the Zenith Gallery's new home. Ninety-six mixed income residents are also included in the development plans.

Memphis Holland of Holland Development says that she and her team are optimistic that financing will be wrapped up by mid-December. Talks concerning the release of the property from the District to developers are "still in process" according to Holland. She promised, however, that they are "closer then they were," and hopes to have a deal finalized by the end of the year. But even if the deal can't be wrapped up prior to Vincent Gray's inauguration as Mayor, Holland explained that "we've been in communication with Gray's transition team for some time, and they're on board." Such words point to slow but steady movement in the right direction, but certainly do not serve as a precursor to groundwork, as the Zoning process awaits, and architectural details must be ironed out through a succession of informal and formal meetings.

Correction: Jad Donohoe of the Donohoe Companies recently contacted DCMud to amend one of the above facts, saying "I’m the project manager on this effort, and we are not in talks with the Gray team." Memphis Holland confirms this misinformation and apologized for the error. It should be affirmed, however, that the current DMPED staff has been in communication for some time now with Gray's transition team members, briefing them on all major projects.

Washington D.C. Real Estate Development News