PN Hoffman, the D.C. real estate firm planning a $1.5 billion overhaul of the city’s Southwest waterfront, is bringing retail specialist Madison Marquette in as co-developer after a previous partner faltered.
Monty Hoffman, chief executive of PN Hoffman, said Madison Marquette, a D.C.-based firm that has developed more 20 million square feet nationally, will also serve as an owner of the project after Baltimore’s Struever Bros. Eccles & Rouse was no longer able to continue as a major partner.
The two D.C. companies are still going through due diligence before the deal, signed this month, can be finalized. The partnership would allow construction to begin in 2012, Hoffman said.
Full story: New partnership to develop D.C.’s Southwest waterfront