Lowe, JBG Partner on Mixed-Use Development in Nation’s Capital
- Oct 05, 2010
October 5, 2010
By Allison Landa, News Editor
A nine-acre mixed-use development near the Fort Totten metro stop in northern Washington, DC is the subject of a joint venture between Lowe Enterprises and The JBG Cos. The two will co-develop the property.
According to Lowe real estate group managing director Mike Balaban, work will resume immediately on plans and approvals for the project, which is a public-private partnership. The land is owned by the District of Columbia and the DC Department of Transportation.
The Fort Totten project will offer residential and retail space and be positioned as a transit-oriented development.
Lowe has been active in Washington since 1980, when it established a local office. JBG is a developer, owner and operator of office, residential, hotel and retail properties with a portfolio of more than $10 billion in assets under management and development.