A team has been assembled by D.C. Mayor Vincent Gray to lead the first phase of the St. Elizabeth's east redevelopment. The project involves 716,000-square-feet of commercial space, 452,866-square-feet of "innovation" uses, 122,000-square-feet of retail, 1.1 million-square-feet of residential, and a 150- to 180-key hotel, as reported by Washington Business Journal. There's no exact estimated date of completion, save for that it will take a "decade-plus" to finish. The development is expected to create 9,000 new jobs and 1,00 new homes, while generating $400 million in new tax revenue and $700 million in private investment. With this new development, Gray hopes to make "an innovative space that's unlike any other in the District of Columbia."
· District picks development team to lead St. Elizabeths east overhaul [Washington Business Journal]