August 2014 - Bostonia Receives 2014 Infrastructure Award from National Council for Public-Private Partnerships
Together with the District of Columbia – Department of General Services and private development firm, StonebridgeCarras LLC, Bostonia Partners received the 2014 NCPPP Infrastructure Award for its work on the redevelopment of 200 Eye Street SE in Washington, DC. Anita P. Molino, president of Bostonia Partners and Chair of NCPPP, and Josh Evans of Bostonia Partners were in attendance at the NCPPP conference in Denver, Colorado to receive the award.
The 200 Eye Street redevelopment project unlocked significant value for the District by solving two ongoing issues facing the Department of General Services: aging office space and the burdensome lease payment of $6.5 million per year for an unfinished, unoccupied building. As a result of this PPP, the District solved both problems and positioned itself to own more office space in the future. The District upgraded three agencies from their existing, aging office space at almost identical leasing cost into double LEED Platinum, (largest project in DC to receive the distinction) Class A office space for a period of 20 years. Most importantly, the valuable property and its improvements will revert to the District at the conclusion of the 20 year lease. As a result, the District is searching for additional underutilized space in the hopes it can replicate the model used in the 200 Eye St. Project.
In addition to NCPPP, 200 Eye Street SE has been recognized by Washington Business Journal, NAIOP National and NAIOP DC/MD, CREW, and USGBC for being a model of a successful PPP, redevelopment, and sustainable development. Further information on the NCPPP award is available at the NCPPP website.