Foulger-Pratt Breaks Ground in Capitol Hill Neighborhood of Washington, DC with Beckert’s Park
Former Safeway site to feature apartments, retail and new Safeway
June 27, 2018 (Washington, DC) — Capitol Hill’s newest project broke ground today as shovels were turned by Foulger-Pratt for the start of its Beckert’s Park mixed-use development. This project is located on 14th Street between D and E Streets, S.E. on the site of the former Capitol Hill Safeway. Foulger-Pratt was joined by Safeway executives, city officials, EB5 Capital and dignitaries celebrate the event.
The project is expected to be completed in two years and will offer 325 luxury apartments homes, over 8,500 square feet of neighborhood retail and a brand new 60,000 square foot Safeway store. Located just one block from the Potomac Avenue Metro Station, this project will add new energy to this Capitol Hill neighborhood.
The name of Beckert’s Park originates from a beer garden and amusement park that once occupied the site called the Washington Brewery, which was owned by George and Theresa Beckert in the mid-nineteenth century. Beckert’s Park will reference the site’s history but also reimagine it in a contemporary context, as a chic garden and amusement-like park that brings people from the Capitol Hill neighborhood together to socialize, have fun, and co-mingle.
Foulger-Pratt purchased the site from Safeway’s parent company, Albertsons Companies, in 2016. Beckert’s Park marks the second project that Foulger-Pratt and Albertsons worked on together. In 2013, Foulger-Pratt delivered The Exchange, a 486-unit apartment building with a ground floor Safeway in Wheaton, Maryland.
“Today we celebrate the transformation of an historically important site on Capitol Hill,” said Cameron Pratt. “We are thrilled to partner again with Albertsons (Safeway), EB5 Capital and the community to apply our joint expertise to fully realize this distinguished redevelopment opportunity.”
“Beckert’s Park is a welcome addition to this corner of Capitol Hill and to the city,” said Charles Allen, Ward 6 District Councilmember. “A new Safeway and new, upscale housing and shopping will complete the transformation of this property into a solid asset and destination. I believe this project will perfectly meet the vision of the community and I salute Foulger-Pratt and Safeway for recognizing that, and for their involvement and interest in the city.”
The 325 luxury apartments will contain a mix of one-bedroom, two-bedroom and three-bedroom apartments and a penthouse level with private terraces. Many of the units will enjoy unobstructed views of the Capitol Hill neighborhood, including the U.S. Capitol. Resident amenities include a club room, outdoor swimming pool, fitness center, a shared workspace business center, dog washing station, bike storage, and a 6,000-square foot multi-purpose, multi-media sport court. Ample below-grade parking will serve both residential and retail purposes.
“The Safeway here has been a cornerstone of the Capitol Hill neighborhood for decades,” said Jim Perkins, Executive Vice President, Retail Operations, Special Projects, ACME President & Eastern President (Albertsons). “This community is special to us and we are excited to bring a brand new, expanded flagship Safeway offering more products and services to the community.”
Established in 1963, Foulger-Pratt is a real estate development firm distinguished by its long-term investment focus and extensive experience executing successful mixed-use, transit-oriented projects throughout the Washington DC metro area. The firm over its history, has developed more than 13.7 million square feet of commercial office, retail space, and multifamily residential projects. From acquisition to development, construction to asset management, the company’s fully integrated teams create value at all stages of an investment’s lifecycle. Foulger-Pratt is privately owned, led, and staffed by many of the industry’s most talented professionals. The firm’s culture has been carefully cultivated for the last half-century through deliberate effort to operate consistently in accordance with specific core values. For more information, visit www.foulgerpratt.com.
About Safeway (Albertsons Companies)
Albertsons Companies is one of the largest food and drug retailers in the United States, with both a strong local presence and national scale. We operate stores across 35 states and the District of Columbia under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs. Albertsons Companies is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. For more information, visit www.albertsons.com.
About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital from investors in more than 50 countries for investment in job-creating real estate projects across the United States. EB5 Capital owns and operates five USCIS-authorized Regional Centers that serve 10 states and the District of Columbia. With a portfolio of 25 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit www.eb5capital.com.