CityCenterDC Awards $200,000 in Grants to Local Nonprofit… - Hines

CityCenterDC Awards $200,000 in Grants to Local Nonprofit Organizations; Funds to Assist Neighborhood Residents Benefit from Emerging Economic Opportunities

Community Services Agency of the Metropolitan Washington AFL-CIO, DC Central Kitchen, N Street Village and Urban Alliance Recognized with Grants

(Washington, D.C.) – Hines and the TFI US Real Estate Fund, developers of CityCenterDC, have awarded four Washington, D.C. nonprofit organizations a total of $200,000 as part of a grant-making initiative with The Community Foundation for the National Capital Region. The CityCenterDC Opportunity Grants Program helped further the development team’s vision for a vibrant urban center by ensuring that local community members benefit from CityCenterDC’s emerging economic opportunities.

CityCenterDC is a 10-acre parcel located in the heart of the Nation’s Capital that is currently being transformed into a vibrant blend of residences, offices, shopping, restaurants, hotel and active parks.

More than 30 nonprofit organizations applied for these one-time grants. The field was narrowed to 14 finalists, and four grants were awarded. The recipients are: Community Services Agency of the Metropolitan Washington AFL-CIO, which aims to improve the lives of workers and their families by meeting their human and social services needs and protecting justice for workers; DC Central Kitchen, which is a leader in reducing hunger with recycled food, training unemployed adults for culinary careers, serving healthy school meals and rebuilding urban food systems through social enterprise; N Street Village, a community of empowerment and recovery for homeless and low-income women in Washington, D.C.; and Urban Alliance, an organization that empowers under-resourced youth to aspire, work and succeed through paid internships, formal training and mentorship.

“We are proud to recognize each of these meaningful nonprofit organizations as part of our CityCenterDC Opportunity Grants Program, a philanthropic effort aimed at improving the economic prospects of working-age, low-income, underemployed and unemployed District residents,” said Howard Riker, managing director for Hines. “All four of these groups have made exceptional contributions to the local community and we are delighted that we can offer our support as they continue to foster economic growth throughout the District.” He added, “Since CityCenterDC’s inception, continued civic involvement has been central to our mission and we take this pledge very seriously.”

“These four organizations have proven track records of excellence and will use this funding to improve the lives of local residents,” said Community Foundation President Terri Lee Freeman. “The Community Foundation is very pleased to partner with CityCenterDC, and grateful to Hines for their generosity of spirit and commitment to our community.”

Hines’ commitment to community was also evident as the fences that surround CityCenterDC recently were removed and 10th Street and I Street were reopened – marking the first time these thoroughfares have been accessible to the public in more than 30 years.

In addition, a lottery for the 92 affordable apartment units within the project was successfully held in October 2013, providing an opportunity for many who would otherwise be unable to live at CityCenterDC.

The developer is now welcoming the first residents to their homes at The Apartments at CityCenter and The Residences at CityCenter.

CityCenterDC has already realized tremendous success, having leased 95 percent of its office space and sold more than 70 percent of its condominium residences since their premiere in January 2013. In addition, the apartment leasing program commenced in the Fall with an extremely favorable reception from the local community.

When all phases of the project are completed, CityCenterDC retail component will include over 60 apparel stores, restaurants and cafes in approximately 300,000 square feet with extensive street frontage and dynamic storefronts.

Engaging public spaces will host seasonal programming and events that will complement this retail activity and other Downtown D.C. attractions.

A grand opening will be planned for Fall 2014.

CityCenterDC is a development of Hines and The TFI US Real Estate Fund.

The anchor investor in the Fund is Qatari Diar Real Estate Investment Company (Qatari Diar), the real estate investment arm of the Qatar Investment Authority.

The Fund is advised by Tanween, a Qatari real estate development management and consulting firm.

About CityCenterDC

CityCenterDC (www.citycenterdc.com) is a unique, pedestrian-friendly, 10-acre mixed-use development, located in the heart of Downtown Washington on a 4.5-block parcel bounded by New York Avenue, 9th, H and 11th Streets, NW. Foster + Partners, an international studio for architecture, planning and design based in London, served as the master-plan architect and the design architect for the office and for-sale-housing components.

Shalom Baranes Associates, P.C., a Washington-based architectural firm, served as the associate master-plan architect and the design architect for the residential rental component. Phases I and II of the project will contain more than 270,000 square feet of retail space situated at the base of seven buildings that encompass 520,000 square feet of office space, 458 rental apartment units, 216 condominium units, a 370-room luxury hotel, a public park, a central plaza and pedestrian-oriented streets and alleyways.

About Hines

 Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,283 properties representing more than 516 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.

Currently, Hines manages 378 properties totaling 151.9 million square feet, which includes 84.3 million square feet for third parties. With offices in 111 cities in 18 countries, and controlled assets valued at approximately $25.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.

Visit www.hines.com for more information.

About The First Investor (TFI)

TFI is a leading investment company in Qatar and is regulated by the Qatar Central Bank. A wholly owned subsidiary of Barwa Bank, TFI is emerging as one of the most respected investment banking firms within the region, combining Qatari leadership with both international and local expertise to provide dedicated services in Investment Banking, Asset Management and Real Estate Investment.

Through its strong international network of relationships and deep technical expertise, TFI provides a global approach in helping clients formulate, deliver and manage effective corporate strategies.

Visit www.tfi.com.qa for more information.

About Tanween

Tanween is a Qatari real estate development management and consultancy firm operating in GCC and MENA with a network of international consultants and partners.

Tanween’s current portfolio of projects under development amounts to around $22 billion.

Tanween assists land owners, developers, investment banks and investors to create commercially viable and sustainable world-class real estate communities in all asset classes.

Tanween’s experts provide various strategies for real estate developments and asset management and comprehensive project delivery services throughout the development lifecycle.

Visit www.tanween.com.

About QATARI DIAR

QATARI DIAR Real Estate Company (QD) was established by the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar. Its purpose is to support Qatar’s growing economy and to coordinate the country’s real estate development priorities.

With over 49 landmark projects underway in more than 29 countries, QATARI DIAR is committed to its vision of promoting a better quality of life for the people of Qatar and around the world by creating distinguished developments on a grand scale, incorporating best practice in industry standards.

The Company aims to create and manage property investments and developments which comply with the best international standards and strongly reflect local culture and values.

As a result, QATARI DIAR’s projects deliver a sustainable social, economic and environmental benefit to the community.

Visit www.qataridiar.com.

About The Community Foundation for the National Capital Region

The mission of The Community Foundation for the National Capital Region is to strengthen the Washington metropolitan region by encouraging and supporting effective giving and by providing leadership on critical issues in our community. We are a community of givers, dedicated to inspiring and creating change across the Washington region and beyond. The Foundation, and our two regional affiliate foundations - The Community Foundation for Montgomery County and The Community Foundation for Prince George's County - are part of a network of some 700 community foundations nationwide, each a tax-exempt, public charity made up of charitable giving funds established by individuals, families, corporations and other organizations. We currently manage more than 700 donor funds with assets totaling more than $326 million. We are the largest funder of nonprofit organizations in the metropolitan Washington region, with annual grants of more than $90 million.

 

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