cooldcre: November 2011

New condos in DC Districtre.com The Isaacs Team LLC

National Harbor Loses Disney

National Harbor Loses Disney

After struggling through 2008 and slow progress since in both the retail and condominium sectors, National Harbor boosted its profile in May of 2009 with the announcement of an $11M land sale to Walt Disney Parks and Resorts. Disney was considering the 15-acre site overlooking the Potomac River for a 500-room resort hotel. 

“We’re thrilled Disney has decided to invest in National Harbor,” Milton V. Peterson, chairman of the Peterson Companies, had said to The Washington Post after the announcement. “Disney is the top family entertainment company in the world, and its purchase is a great vote of confidence in the future of National Harbor and the Washington area as a top family tourism destination.”

But today, Walt Disney Co. announced its cancellation of plans to build at National Harbor.  The news takes the air out of recent attempts to build interest in the development, the majority of which is owned by the Peterson Cos. Among their announcments earlier this year was news that new retail stores were signed for National Harbor, including House of Jon Lei Atelier bridal salon, Scented Organic Artisan Pure, womens' boutique Periwinkle, Dandelion Patch stationary and Nando's Peri-Peri chicken restaurant. Following them, a Pinkberry and ChiDogO’s.  Tanger Factory Outlet Centers signed a deal to bring outlet stores to the complex and Redeye Grill and other restaurants were reported to be coming to National Harbor by the end of 2012. At that point, the retail portion of the complex would be at 85% occupation.

National Harbor already has six hotels, anchored by the Gaylord National Resort and Convention Center. 

Of Disney's decision to withdraw, the Washington Post reports Jon Petersion, senior vice president of the Peterson Cos., as saying; "We are disappointed.” He added that “there was always a little bit of uncertainty” over whether Disney would follow through.

The parcel at issue is located at the top of American Way, overlooking the National Harbor complex. Peterson Companies is in talks to re-purchase and re-market the property.complex. Peterson Companies is in talks to re-purchase and re-market the property.

Copyright - All rights reserved The Isaacs Team LLC

The Isaacs Team at RLAH

About The Isaacs Team

realestateinthedistrict.com

RLAH | Real Living At Home

11 Dupont Circle #650 Washington DC 20036

Comment balloon 0 commentsThe Isaacs Team llc • November 26 2011 08:52AM
National Harbor Loses Disney
share
National Harbor Loses Disney After struggling through 2008 and slow progress since in both the retail and condominium sectors, National Harbor boosted its profile in May of 2009 with the announcement of an $11M land sale to Walt Disney… more
A Whimsical Journey
share
Address Is Approximate from The Theory on Vimeo more
Someone's Had Too Much Coffee
share
xkxd Money Chart It may be the mother of all infographics. Among other things, Americans pay $15, 200, 000, 000. in capital gains taxes (1031 exchange, people), with $25, 750, 000, 000. capital gains death exclusion. Everything from loose… more
FHA Limits Rise Again & New Fee for GSEs
share
Obama Signs FHA, VA Loan Limits & Slaps on GSE Fee President Obama'a signature today on H. R. 2112, the bill reinstating extended loan limits for FHA and VA loans through December 31, 2013 excludes government sponsored… more
CFPB Drafts New Form Design: And You Can Vote!
share
Choose Sides: Hornbeam or Ironwood? Learning to live with those horrendous revised forms we've been using the past few years (seems like forever) in real estate-related transactions? The ones that (don't) show you clearly what the buyer… more
PEPCO Planting (another) One on Friendship Heights DC
share
PEPCO Planting (another) One on Friendship Heights PEPCO really likes Friendship Heights. And they like big watts (and they can not lie). So much so that the power giant has purchased 5220 Wisconsin Avenue from Akridge with the… more
Washington DC Foreclosure Comparison
share
DC Foreclosures Compared to National Increases Foreclosure Filings in U. S. Increase 7% Five states accounted for 53 percent of all U. S. filings. California (#1 at 55, 312) and Nevada, Arizona, Florida and Michigan in top five… more
2011 NAR Study of Home Buyers & Sellers
share
2011 NAR Study of Home Buyers & Sellers A new survey by the National Association of Realtors (NAR) shows that home buyers are now staying within their means and more home sellers are using real estate agents to list and sell their… more
Home Owners Associations in DC & NVA
share
DCMETRO real estate Home Owners Associations in DC & NVA An HOA or Home Owner's Association is a not-for-profit corporation created by developers of residential housing communities in Virginia or Washington DC prior to a sales… more
DC Real Estate: Repurposing with Salvaged Materials
share
DC Real Estate: Repurposing With Salvaged Materials A great way to save money renovating DC real estate is to take advantage of repurposing resources. Repurposing with salvaged building materials in Washington DC Metro helps keep home… more