National Harbor Forges Ahead

NATIONAL HARBOR, MD - 

 

National, regional and local economies were booming on the day in 2007 that the Peterson Cos, began construction of National Harbor, their 300 acre mixed use “community of tomorrow”, on the site of an abandoned quarry and ante-bellum plantation in Prince George’s County Maryland.  A year later the tides had turned and the “Great Recession” had begun changing development plans all over the nation.  National Harbor’s grand plan was among them.

 

The plan and design for the site was to convert it into a compact urban development with approximately 2,500 residential units, over 1 millions square feet of retail space, a half million square feet of office development as well as a destination hotel and convention center. The first phase of National Harbor included 320,000 square feet of retail/dining/entertainment, 2,500 residential units, 150,000 square feet of loft office, 250 timeshare/vacation units, a 200-room luxury hotel and an additional 400 traditional hotel rooms. So far, the project made a significant impact on the regional economy creating over 13,000 jobs.

 

DC Connections

 

Located along a 1.25-mile-long stretch of the Potomac River just south of the Woodrow Wilson Memorial Bridge, National Harbor offers stunning views of downtown Washington, D.C. and Old Town Alexandria.  A 15-minute drive from the heart of the nation’s capital, National Harbor is home to Gaylord Entertainment’s newest creation, Gaylord National, which boasts 1,500 luxurious hotel accommodations and a 400,000-square-foot convention center in addition to National Harbor’s first phase of development.

 

National Harbor offers an eclectic mix of architectural styles, a contemporary interpretation complementing the traditional Washington D.C. architectural ethos. Designed to evoke an atmosphere reminiscent of Georgetown, Annapolis and Baltimore’s Inner Harbor and inspired by classical broad European streets like Barcelona’s Las Ramblas, ‘the Avenue”, National Harbor’s main pedestrian/vehicular boulevard with a central island of kiosks, cafes and bustling pedestrian activity, opens onto a large open waterside plaza. Riverfront marina space features a section of beach and two 700-foot long piers with a canopied pavilion.  A metro stop is planned for National Harbor, as is a new water taxi service on the Potomac River.

 

Forging Ahead through Difficult Times

 

The seismic shifts in our economy seriously affected many components of the National Harbor development plan though primarily the residential and resort areas.  The retail component despite some setbacks has remained strong and on track.  Walt Petrie, chairman of Petrie Ross, also a real estate development firm said of the efforts undertaken by Milton V. Peterson, chairman of the Peterson Cos., “ he has done everything he could to see the project through the rocky economy” to completion.  “He’s forging ahead as best as he can,” Petrie continued.

 

Peterson’s ‘best efforts’ seem to be bearing fruit.  Despite Disney’s scrapped plans to open a 500-room resort hotel at the site the developers have signed a joint agreement with Tanger Outlets to open 80 discount stores in 388,000 square feet.  This outlet center will be the first such discount destination inside the Capital Beltway.  The Prince George’s County Planning Board approved the plan for the center last Thursday.  The cost of the outlet center will be approximately $100 million.  Final approval is expected this summer and the mall is expected to open by summer 2013

 

In addition, the developers continue to hammer away at individual leases signing 12,000 square feet of new restaurants and boutiques in the last few weeks.  Some of the newest additions are S.O.A.P (scented, organic artisan, pure) a refreshing apothecary of handmade bath and body products, BlinkBlanco a private-label clothing boutique, Angst, another clothing boutique concept by Rick Sarmiento and JonLei Atelier a bridal store.  Other recent additions include, the Dandelion Patch a Vienna Virginia based fine paper and stationary store, Periwinkle, a specialty clothing retailer that specializes in new and emerging designers and ChidogO’s, the ‘home away from home’ for Chicago style hot dog lovers.  Wolfgang Puck Catering and Redeye Grill are expected to sign on as well which would bring the retail vacancy rate under 15%.

 

Other food purveyors who will join the roster in 2012 are Nando’s Peri Peri, which specializes in flame-grilled chicken cooked in a secret, signature five-spice mixture with over 900 locations in 30 countries, Pinkberry, the L.A based frozen yogurt shop and Subway.

 

Boutique retailers regularly find success at National Harbor. “We are particularly pleased to partner with best-in-class entrepreneurs who are growing or expanding their businesses in the region,” said Marc Menick, vice president of leasing at The Peterson Cos.  “These unique retailers will complement National Harbor’s unique environment and provide a truly exceptional product mix for our residents and visitors.”

 

Despite hurdles the Peterson Company has persevered through hard times to see its vision for National Harbor come to life.  Steven Peterson, President of the Peterson Cos., wrote in his blog, “At the Peterson Cos.’ retail properties, customers come to our centers for the shopping of course, but they also come for the experience—to hear the local school choir and strolling Dickens Carolers, to take a horse and carriage ride or yes even to see Santa waterskiing on the Potomac.”  They seem to understand their customer, which has helped them to navigate through these tough times.

Click Site Plan to view Retail and Dining Directory

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The Peterson Companies (www.petersoncos.com) developer of National Harbor, has an extensive history of successful development and acquisition of properties in office, retail, residential, and land development since its founding in 1970.

 

DDG (www.ddg-usa.com) is an internationally renowned, industry leader, delivering innovative and award-winning planning, architecture, graphics, interiors, and design solutions to commercial developments in cities, towns, and suburbs around the world.  DDG is the master architect and master planner for National Harbor.