ULI Washington today congratulates the City Market at O and Monroe Street Market, both finalists in 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 finalists represent developments from around the globe, including six in Asia, five in Europe, and eleven in North America. Washington, D.C. was the only city in North America with multiple finalists.
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.
Located on five city blocks in Washington, D.C., Monroe Street Market transforms The Catholic University of America’s South Campus into a vibrant, mixed-use community. Monroe Street Market consists of three buildings – Brookland Works, Portland Flats and Cornerstone – encompassing approximately 720 residences, 45 townhomes, 83,000 square feet of street-level retail, 15,000 square feet of artist studio space, a 3,000 square-foot community arts center, and 850 parking spaces. Art is a fundamental part of the project, which contains an “Arts Walk”, a pedestrian- only corridor flanked by two five-story buildings that provides 27 ground-floor artist studios at below-market rent. “Both of these projects were selected for the value they add to their larger community,” Lisa Rother, Executive Director of ULI Washington said. “As the only city in North America with multiple finalists, local developers and designers have demonstrated that Washington D.C. is an international leader when it comes to achieving excellence in land use.”
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 – will select the winning projects at the ULI Fall Meeting, set for October 5-8, 2015 in San Francisco, California.
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