Wednesday, November 10, 2010

New Giant Slated for 3rd and H St NE

Good news for the H street corridor. The Washington Business Journal reports that Chevy Chase-based developer Steuart Investment Co. has lured Giant as the retail anchor for their 286,500-square-foot-project called 360˚ H Street. The Giant will fill 41,200 square feet of ground-level retail, with another 1,500 square foot bay yet to be filled.

The development, which will house 215 rental units and 270 underground parking spaces, has been looking for a grocery for its ground level for quite some time. Steuart Investment Co, led by Guy Steuart, also approached Harris Teeter, Yes!Organic Market and Trader Joe's.

Not all residents were thrilled to see Giant lease the space over the other higher-end groceries. H Street's ANC chairman, Kelvin Robinson, commented that the H street community “wanted to have a different level of store.” 
However, the move appears to be a savvy one for Giant. As Tony Richardson (ANC 6C) aptly noted in response to some critics, "What’s so bad about Giant? Right now there’s nothing there.”

The new store will be two blocks from Union Station, along the much-anticipated (and yet unbuilt) NE streetcar line, and will be across from another residential development by Abdo, with an additional 480 units. Per DC's supermarket tax exemption program, it's likely that Giant will be granted a 10-year tax abatement at that location. Steuart Investment Co was awarded a $5 million abatement last year to build 360˚ H Street.

DC's Ward 6 councilman, Tommy Wells, has also expressed his support for the project. He was recently quoted by WBJ as stating, "This is a great next step in the revitalization of the H Street Corridor. I'm excited that Giant has been exploring more urban and transit-oriented store designs and I'm eager to see Steuart and Giant deliver on a vision that embraces the new streetcar and the proximity to Union Station."

Giant is also leasing retail space at the new Citymarket at O development--a highly anticipated project that will encompass the blocks between 7th and 9th, and O and P streets NW. The historic Shaw location will feature a 72,000-square-foot Giant, almost twice the size of the H St location.

1 comment:

  1. I have to agree with the H Street ANC Chairman. As a resident of the area, I think it would be a lot nicer to have just about any other grocery store...particularly a Trader Joe's!