WASHINGTON, DC (October 13, 2015) – ULI Washington today congratulated the City Market at O, a 2015 winner of the Urban Land Institute (ULI) Global Awards for Excellence competition. The award recognizes real estate projects that achieve a high standard of excellence in design, construction, economics, planning and management.
This year’s winners represent developments from around the globe, including five in North America, three in Europe and two in Asia.
City Market at O (CMO) is a nearly 1M square foot mixed-use redevelopment project, in the historic Shaw neighborhood that has catalyzed nearly $1b of new investment and helped to stabilize the area. The project is a historic 19th century market enveloped by a mix of residential and retail spaces and a hotel. Extraordinary creativity on the part of the design, construction and financing teams accelerated the delivery of senior housing (3 years), achieved 15% more affordability, and consolidated all loading underground to create an uninterrupted retail experience with minimal impact on traffic and noise.
“ULI Washington is proud to count a project in our own backyard among the winners of this year’s ULI Global Awards for Excellence.” Lisa Rother, Executive Director of ULI Washington said. “At a time when the District continues to undergo significant redevelopment, these awards serve as a timely reminder of the impact responsible land use can make in terms of community longevity and sustainability.”
The competition, established in 1979, is part of the Institute’s Awards for Excellence program, which is based on ULI’s guiding principle that the achievement of excellence in land use practice should be recognized and rewarded. ULI’s Awards for Excellence recognize the full development process of a project, not just its architecture or design. The criteria for the awards include leadership, contribution to the community, innovations, public/private partnerships, environmental protection and enhancement, response to societal needs, and financial viability. Throughout the program’s history, all types of projects have been recognized for their excellence, including office, residential, recreational, urban/mixed-use, industrial/office park, commercial/retail, new community, rehabilitation, and public projects and programs.
An international jury – representing a multidisciplinary collection of real estate development expertise, including finance, land planning, development, public affairs, design, and other professional services – selected the winning projects at the ULI Fall Meeting held October 5-8, 2015 in San Francisco, California.
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