Metro News Release

For immediate release: June 28, 2007

Developer to build office building above Navy Yard station

A developer plans to build a new office building and shops on top of the Navy Yard station's east entrance near the new baseball stadium.

Metro's Board approved today the sale of the station's east entrance to NJA Associates LLC, an affiliate of The Donahoe Companies. Metro offered the entrance site for lease or sale last August. The 5,612 square foot parcel is located at the northwest corner of New Jersey Avenue and M Street in Southeast Washington. It contains escalators, an elevator, vent shaft and a below-ground Metro pedestrian passageway.

The developer proposed combining its adjacent 16,404 square foot property, north of the entrance, with the Metro property. The company plans to construct an office building with ground floor retail. Metro will receive at least $2.3 million for the property. That amount could grow to $3.4 million if the developer can win zoning waivers to build more than 220,000 square feet of space. The money will be used to fund future transit projects.

Metro will have permanent access rights to the property. The transit agency has struck similar joint development agreements, such as the one at the Gallery Place-Chinatown Metrorail station entrance at 7th and H streets, Northwest Washington.

News release issued at 12:00 am, June 28, 2007.