From Winds Of Jihad:
No Sharia to see here, move on: D.C. gets $ 700 million sharia compliant shopping centre
by sheikyermami on June 26, 2011
H/T Atlas
This is the next level of imposing Islamic law on the secular marketplace.
A shariah compliant mall on taxpayer land.
The New York Times says here that the property is primarily public property:
Blocks From the President, Developers Plan Big
By TERRY PRISTIN
Published: June 21, 2011
Recommend
Twitter
Sign In to E-Mail
Print
Reprints
Share
.
WASHINGTON — Since the late 1990s, the once-desolate section of downtown Washington east of the White House has undergone a striking transformation. About $10.6 billion has been invested in more than 150 real estate projects. Some 56,000 people now live downtown, up from 38,000 in 2000.
Enlarge This Image
Neoscape
A rendering of City- CenterDC, a $700 million complex under construction in the heart of Washington that is envisioned as a modern-day Rockefeller Center, with a public plaza and a park.
Multimedia
Map
Location of CityCenterDC
.
Related
Square Feet: Hamptons Hope for an End to the Seasonal Store (June 22, 2011)
And after years of planning, the most ambitious of the downtown projects is finally under way. Construction began in March on CityCenterDC, a $700 million complex envisioned as a modern-day Rockefeller Center, with 2.5 million square feet of office, residential and retail space as well as a public plaza and park. Completion of the bulk of the project is expected in late 2013, according to the two real estate companies, Hines Interests of Houston and Archstone of Englewood, Colo., that won development rights in 2003.
One of the largest downtown projects in the nation, CityCenterDC will fill 10 acres, all city-owned except for the land beneath two condo buildings. Bounded by New York Avenue and 9th, H and 11th Streets NW, the site was once occupied by a convention center that was demolished in 2004 (a year after the larger Walter E. Washington Convention Center was built nearby), leaving a giant parking lot in one of the city’s most desirable locations, only two blocks from two of the busiest Metrorail stations.
“This really is the hole in the doughnut,” said William M. Collins, a senior managing director of Cassidy Turley, a national brokerage, which is not involved in CityCenterDC.
CityCenterDC is one of several major projects around the country that were stalled by the recession. But while construction has yet to begin developments like Grand Avenue in Los Angeles and Atlantic Yards in Brooklyn (except for the Nets basketball arena, where work is under way), CityCenterDC was able to move forward because of a recent $620 million equity investment by the real estate arm of the Persian Gulf state of Qatar. The Qatari Diar Real Estate Investment Company is now the project’s principal owner.
The complex will be made up of six buildings, 10 and 11 stories in height in keeping with the District of Columbia’s 130-foot height restriction. At their base will be 185,000 square feet of retail stores facing the street. An additional 110,000 square feet of retail space is planned for the project’s second phase, which will also include a luxury hotel.
To integrate the site with its surroundings, the sections of I and 10th Streets that were cut off to make way for the old convention center will be restored. Alleyways, largely restricted to pedestrians, will run between buildings and provide space for smaller stores.
The two office buildings, with a total of 520,000 square feet, and two condominium buildings, with 216 units, were designed by the prominent London architect Norman Foster’s firm, Foster & Partners, whose other projects have included the reconstruction of the Reichstag in Berlin. The two rental apartment buildings, with 458 units, were designed by Shalom Baranes, a local firm that worked on the redevelopment of the Homer building in downtown Washington at 13th and F Streets NW.
Even though nearly 7,000 new rental units are scheduled to be completed in Washington in the next few years, prospects are good for the apartments because of their central location, said Gregory H. Leisch, the chief executive of Delta Associates, a real estate consulting firm that advises Hines and Archstone. Condo prices in the city center have risen 1.8 percent in the past year, to an average of $710 a square foot.
The demand for office space from law firms and other private tenants — the space will be too costly for government tenants, said Bill Alsup, a senior vice president of Hines — is improving, according to Cassidy Turley. But Hines suffered a setback last July, when the national law firm Skadden, Arps, Slate, Meagher & Flom renewed its lease at 1440 New York Avenue NW, rather than fulfilling an earlier plan to lease 350,000 square feet at CityCenterDC. “It would have been very nice to have had a major tenant commitment prior to the start of construction, but it wasn’t critical,” said Mr. Alsup.
Tom Fulcher, an executive vice president at Studley, a brokerage that represents tenants, said most large Washington law firms with leases expiring in 2015 and 2016 had made their real estate decisions because large blocks of space can be scarce in a city without skyscrapers. One exception pursued by the developers is Arnold & Porter, which is searching for about 335,000 square feet. But the project’s biggest challenge, said Jason Jacobson, a group vice president at Archstone, will be getting the retail mix right. Downtown has a lot of “fast fashion, geared toward younger people,” he said. “Our goal is to bring it up a notch.”
Gerry Widdicombe, the director of economic development for the Downtown D.C. Business Improvement District, a group that helps to market the neighborhood, estimated that Washington residents spent as much as $1 billion a year in suburban shopping centers because of a dearth of stores within the District of Columbia.
The developers are seeking a mix of stores, including apparel, home furnishings and electronic goods, said Mr. Alsup, whose company developed and manages Galleria malls in Houston and Dallas. About one-third of the space will be limited to stores new to downtown, he said. Mr. Jacobson said some space along the alleys would be made available to local fledgling retailers.
Not surprisingly, the developers are trying to persuade the retailer highest on everyone’s list — Apple, which has one store within the District of Columbia, on Wisconsin Avenue in Georgetown — to open a much bigger store of 15,000 square feet or more.
John Asadoorian, a regional retail broker, said CityCenterDC’s leasing goals demonstrated how downtown had matured. “Ten years ago, you probably could not have talked about the type of retail they are trying to attract,” he said.
Even before the Qatari investors became involved, Hines and Archstone determined that leasing to banks would not help them create lively shopping streets, Mr. Alsup said. But as it happened, their hesitancy on bank branches meshed with the policies of their financial partners, who adhere to the restrictions of Shariah, or Islamic law, including the ban on collecting interest. Restaurants will be able to serve liquor, but retailers whose primary business involves selling alcohol will not be allowed, Mr. Alsup said.
In their marketing materials, Hines and Archstone say they intend to provide “an authentic place for urban residents to socialize outside their homes.”
But some planning specialists have wondered if people in downtown Washington will view the plaza, which will be situated between the condo and rental buildings, as public space for them to enjoy. “Putting the plaza in the middle of a large development just feels more private,” said David Dixon, who is in charge of planning and urban design at Goody Clancy & Associates, a design firm in Boston.
Mr. Jacobson said the developers planned to offer programs in the plaza and would make it welcoming with public art and landscaping. “People will find it to be inviting,” he said. “I realize we have to convince some people. Hopefully, we’ll do a better job over the next year or so.”
A version of this article appeared in print on June 22, 2011, on page B6 of the New York edition with the headline: Blocks From the President, Developers Plan Big.
“CityCenterDC will fill 10 acres, all city-owned except for the land beneath two condo buildings.”
This is the jizya (the poll tax imposed by Islamic supremacists on non-Muslims). City lands and tax abatements used to prohibit bars, liquor and infidel banks? And this hasn’t created a firestorm?
Imposing religious restrictions on public property violates DC’s Human Rights Act. Not to mention violation of the separation of church mosque and state (though under Islam, mosque is state).
Qatari Investors: Huge Downtown Development Project Must Conform to Shariah
by Lydia DePillis Washington City Paper
Read it all:
Washington, DC: Huge Shopping Mall Development Project Must be Shariah Compliant
Qatari Investors: Huge Downtown Development Project Must Conform to Shariah
Posted by Lydia DePillis on Jun. 23, 2011 at 10:28 pm
The New York Times' profile of the CityCenterDC project has mostly nothing new in it if you've been following the huge downtown project at all. But it does include this fascinating nugget about the requirements of its Qatari investors:
Even before the Qatari investors became involved, Hines and Archstone determined that leasing to banks would not help them create lively shopping streets, Mr. Alsup said. But as it happened, their hesitancy on bank branches meshed with the policies of their financial partners, who adhere to the restrictions of Shariah, or Islamic law, including the ban on collecting interest. Restaurants will be able to serve liquor, but retailers whose primary business involves selling alcohol will not be allowed, Mr. Alsup said.
In their marketing materials, Hines and Archstone say they intend to provide “an authentic place for urban residents to socialize outside their homes.”
So, no bars or banks for the biggest downtown construction project in recent memory! As Bill Alsup alluded to, banks aren't all that great for a city streetscape, and it's admirable that they planned to forego such a dependable and high-rent-paying tenant. It's less advantageous, though, to not have business devoted primarily to selling alcohol. CityCenterDC is unlikely to be plagued by liquor stores, but it could definitely use a few places to be out at night drinking without getting a full dinner. Could Qatari money turn CityCenterDC into more of a black hole than the last piece of the puzzle in a living downtown?
(Also, I'm really sick of seeing the word "authentic" used in marketing and branding materials—and using it for a brand-new commercial development is particularly meaningless).
(Also I'm thinking about looking into this further—if you've heard any other examples of investors having moral or religious stipulations for the things they fund, drop me a line).
No Sharia to see here, move on: D.C. gets $ 700 million sharia compliant shopping centre
by sheikyermami on June 26, 2011
H/T Atlas
This is the next level of imposing Islamic law on the secular marketplace.
A shariah compliant mall on taxpayer land.
The New York Times says here that the property is primarily public property:
Blocks From the President, Developers Plan Big
By TERRY PRISTIN
Published: June 21, 2011
Recommend
Sign In to E-Mail
Reprints
Share
.
WASHINGTON — Since the late 1990s, the once-desolate section of downtown Washington east of the White House has undergone a striking transformation. About $10.6 billion has been invested in more than 150 real estate projects. Some 56,000 people now live downtown, up from 38,000 in 2000.
Enlarge This Image
Neoscape
A rendering of City- CenterDC, a $700 million complex under construction in the heart of Washington that is envisioned as a modern-day Rockefeller Center, with a public plaza and a park.
Multimedia
Map
Location of CityCenterDC
.
Related
Square Feet: Hamptons Hope for an End to the Seasonal Store (June 22, 2011)
And after years of planning, the most ambitious of the downtown projects is finally under way. Construction began in March on CityCenterDC, a $700 million complex envisioned as a modern-day Rockefeller Center, with 2.5 million square feet of office, residential and retail space as well as a public plaza and park. Completion of the bulk of the project is expected in late 2013, according to the two real estate companies, Hines Interests of Houston and Archstone of Englewood, Colo., that won development rights in 2003.
One of the largest downtown projects in the nation, CityCenterDC will fill 10 acres, all city-owned except for the land beneath two condo buildings. Bounded by New York Avenue and 9th, H and 11th Streets NW, the site was once occupied by a convention center that was demolished in 2004 (a year after the larger Walter E. Washington Convention Center was built nearby), leaving a giant parking lot in one of the city’s most desirable locations, only two blocks from two of the busiest Metrorail stations.
“This really is the hole in the doughnut,” said William M. Collins, a senior managing director of Cassidy Turley, a national brokerage, which is not involved in CityCenterDC.
CityCenterDC is one of several major projects around the country that were stalled by the recession. But while construction has yet to begin developments like Grand Avenue in Los Angeles and Atlantic Yards in Brooklyn (except for the Nets basketball arena, where work is under way), CityCenterDC was able to move forward because of a recent $620 million equity investment by the real estate arm of the Persian Gulf state of Qatar. The Qatari Diar Real Estate Investment Company is now the project’s principal owner.
The complex will be made up of six buildings, 10 and 11 stories in height in keeping with the District of Columbia’s 130-foot height restriction. At their base will be 185,000 square feet of retail stores facing the street. An additional 110,000 square feet of retail space is planned for the project’s second phase, which will also include a luxury hotel.
To integrate the site with its surroundings, the sections of I and 10th Streets that were cut off to make way for the old convention center will be restored. Alleyways, largely restricted to pedestrians, will run between buildings and provide space for smaller stores.
The two office buildings, with a total of 520,000 square feet, and two condominium buildings, with 216 units, were designed by the prominent London architect Norman Foster’s firm, Foster & Partners, whose other projects have included the reconstruction of the Reichstag in Berlin. The two rental apartment buildings, with 458 units, were designed by Shalom Baranes, a local firm that worked on the redevelopment of the Homer building in downtown Washington at 13th and F Streets NW.
Even though nearly 7,000 new rental units are scheduled to be completed in Washington in the next few years, prospects are good for the apartments because of their central location, said Gregory H. Leisch, the chief executive of Delta Associates, a real estate consulting firm that advises Hines and Archstone. Condo prices in the city center have risen 1.8 percent in the past year, to an average of $710 a square foot.
The demand for office space from law firms and other private tenants — the space will be too costly for government tenants, said Bill Alsup, a senior vice president of Hines — is improving, according to Cassidy Turley. But Hines suffered a setback last July, when the national law firm Skadden, Arps, Slate, Meagher & Flom renewed its lease at 1440 New York Avenue NW, rather than fulfilling an earlier plan to lease 350,000 square feet at CityCenterDC. “It would have been very nice to have had a major tenant commitment prior to the start of construction, but it wasn’t critical,” said Mr. Alsup.
Tom Fulcher, an executive vice president at Studley, a brokerage that represents tenants, said most large Washington law firms with leases expiring in 2015 and 2016 had made their real estate decisions because large blocks of space can be scarce in a city without skyscrapers. One exception pursued by the developers is Arnold & Porter, which is searching for about 335,000 square feet. But the project’s biggest challenge, said Jason Jacobson, a group vice president at Archstone, will be getting the retail mix right. Downtown has a lot of “fast fashion, geared toward younger people,” he said. “Our goal is to bring it up a notch.”
Gerry Widdicombe, the director of economic development for the Downtown D.C. Business Improvement District, a group that helps to market the neighborhood, estimated that Washington residents spent as much as $1 billion a year in suburban shopping centers because of a dearth of stores within the District of Columbia.
The developers are seeking a mix of stores, including apparel, home furnishings and electronic goods, said Mr. Alsup, whose company developed and manages Galleria malls in Houston and Dallas. About one-third of the space will be limited to stores new to downtown, he said. Mr. Jacobson said some space along the alleys would be made available to local fledgling retailers.
Not surprisingly, the developers are trying to persuade the retailer highest on everyone’s list — Apple, which has one store within the District of Columbia, on Wisconsin Avenue in Georgetown — to open a much bigger store of 15,000 square feet or more.
John Asadoorian, a regional retail broker, said CityCenterDC’s leasing goals demonstrated how downtown had matured. “Ten years ago, you probably could not have talked about the type of retail they are trying to attract,” he said.
Even before the Qatari investors became involved, Hines and Archstone determined that leasing to banks would not help them create lively shopping streets, Mr. Alsup said. But as it happened, their hesitancy on bank branches meshed with the policies of their financial partners, who adhere to the restrictions of Shariah, or Islamic law, including the ban on collecting interest. Restaurants will be able to serve liquor, but retailers whose primary business involves selling alcohol will not be allowed, Mr. Alsup said.
In their marketing materials, Hines and Archstone say they intend to provide “an authentic place for urban residents to socialize outside their homes.”
But some planning specialists have wondered if people in downtown Washington will view the plaza, which will be situated between the condo and rental buildings, as public space for them to enjoy. “Putting the plaza in the middle of a large development just feels more private,” said David Dixon, who is in charge of planning and urban design at Goody Clancy & Associates, a design firm in Boston.
Mr. Jacobson said the developers planned to offer programs in the plaza and would make it welcoming with public art and landscaping. “People will find it to be inviting,” he said. “I realize we have to convince some people. Hopefully, we’ll do a better job over the next year or so.”
A version of this article appeared in print on June 22, 2011, on page B6 of the New York edition with the headline: Blocks From the President, Developers Plan Big.
“CityCenterDC will fill 10 acres, all city-owned except for the land beneath two condo buildings.”
This is the jizya (the poll tax imposed by Islamic supremacists on non-Muslims). City lands and tax abatements used to prohibit bars, liquor and infidel banks? And this hasn’t created a firestorm?
Imposing religious restrictions on public property violates DC’s Human Rights Act. Not to mention violation of the separation of church mosque and state (though under Islam, mosque is state).
Qatari Investors: Huge Downtown Development Project Must Conform to Shariah
by Lydia DePillis Washington City Paper
Read it all:
Washington, DC: Huge Shopping Mall Development Project Must be Shariah Compliant
Qatari Investors: Huge Downtown Development Project Must Conform to Shariah
Posted by Lydia DePillis on Jun. 23, 2011 at 10:28 pm
The New York Times' profile of the CityCenterDC project has mostly nothing new in it if you've been following the huge downtown project at all. But it does include this fascinating nugget about the requirements of its Qatari investors:
Even before the Qatari investors became involved, Hines and Archstone determined that leasing to banks would not help them create lively shopping streets, Mr. Alsup said. But as it happened, their hesitancy on bank branches meshed with the policies of their financial partners, who adhere to the restrictions of Shariah, or Islamic law, including the ban on collecting interest. Restaurants will be able to serve liquor, but retailers whose primary business involves selling alcohol will not be allowed, Mr. Alsup said.
In their marketing materials, Hines and Archstone say they intend to provide “an authentic place for urban residents to socialize outside their homes.”
So, no bars or banks for the biggest downtown construction project in recent memory! As Bill Alsup alluded to, banks aren't all that great for a city streetscape, and it's admirable that they planned to forego such a dependable and high-rent-paying tenant. It's less advantageous, though, to not have business devoted primarily to selling alcohol. CityCenterDC is unlikely to be plagued by liquor stores, but it could definitely use a few places to be out at night drinking without getting a full dinner. Could Qatari money turn CityCenterDC into more of a black hole than the last piece of the puzzle in a living downtown?
(Also, I'm really sick of seeing the word "authentic" used in marketing and branding materials—and using it for a brand-new commercial development is particularly meaningless).
(Also I'm thinking about looking into this further—if you've heard any other examples of investors having moral or religious stipulations for the things they fund, drop me a line).
No comments:
Post a Comment