A record-number of Americans visited the District last year, helping boost tourist spending in the nation’s capital to an all-time high of $7.1 billion.
More than 19.3 million Americans came to the District in 2015, an increase of 1 million visitors, or 5.3 percent, from the year before, according to a report released Tuesday by Destination D.C., the District’s marketing arm. The data was compiled by McLean-based travel research firm D.K. Shifflet.
EB5 Capital today announced that it has provided $40.5 million in preferred equity financing for Columbia Place, a dual-branded Marriott hotel project being developed by Quadrangle Development Corporation and Capstone Development. Columbia Place comprises two new Marriott hotels – a 357-room Courtyard and a 147-room Residence Inn – within one building. The two hotels will be built across from both the existing Marriott Marquis and the Walter E. Washington Convention Center, creating a true three-hotel complex. The three hotels will include more than 1,600 rooms for business and leisure travelers.
Outdoors outfitter REI wasn’t even planning to open one of its rare flagship stores in the District when it set out on a D.C. real estate search more than three years ago.
It was thinking of doing something perhaps a little larger than its nearby suburban stores — Greater Washington had been a good market for the Kent, Washington-based brand, after all — but not a flagship, of which there are only four others in the country.
On Wednesday April 20th, Invest in the USA (IIUSA), the national not-for-profit industry trade association for the EB-5 Regional Center Program (the “Program”), held its 11th Annual General Membership Meeting (“AGM”) in Washington, D.C. The membership meeting kicked off the 9th Annual EB-5 Advocacy Conference, the longest running EB-5 conference attended by international investment and economic development professionals around the world.
While the west side of the NoMa metro in Northeast DC is already built up with glassy apartments, hotels, a Harris Teeter, and other retail, the east side of the tracks—next to the station’s M Street NE entrance—remains mostly untouched. Within a few years, though, it will look dramatically different. Trammell Crow and its wholly owned subsidiary, High Street Residential, filed plans with the DC Zoning Commission on Tuesday for the 2.4 acres abutting the tracks, and Douglas Development’s conversion of the old Uline Arena, a.k.a. the Washington Coliseum, has been underway for months. Here’s a rundown of what’s coming.