Property Group Partners announces partnership with USHG
Property Group Partners (PGP) today officially announced a new partnership with Union Square Hospitality Group (USHG) to establish a leading presence in Capitol Crossing – one of the region’s most ambitious neighborhood revitalization projects.
“This is the first step in an exciting and innovative relationship between Capitol Crossing and Union Square Hospitality Group,” said Jeffrey Sussman, President of Property Group Partners (PGP). “Capitol Crossing is one of the most forward-thinking and eco-friendly mixed-use development projects underway in the DC metro area and this announcement demonstrates our commitment to delivering a one-of-a-kind destination for residents.”
USHG is the proprietor of the recently reopened Union Square Cafe, Gramercy Tavern, Blue Smoke, Jazz Standard, The Modern, Cafe 2 and Terrace 5 (located at the Museum of Modern Art), Maialino, Untitled and Studio Cafe at the Whitney Museum of American Art, North End Grill, Marta, Porchlight, and Daily Provisions. USHG also includes Union Square Events, a catering and venue hospitality business, and Hospitality Quotient, an organizational consulting business. Shake Shack, a separate public company founded by Danny Meyer, now has nine locations in the Washington metro area.
“Danny Meyer and USHG deliver groundbreaking restaurants and hospitality that are second-to-none,” said Bob Braunohler, Regional Vice President of Property Group Partners. “Their concepts fully embody our vision to unite and serve the surrounding communities and create a bustling new neighborhood in a part of the city that needs more great gathering places. We’re very pleased to partner with Danny Meyer and USHG and look forward to introducing their signature hospitality to Capitol Crossing and all of DC.”
The first two buildings at Capitol Crossing – 200 and 250 Massachusetts Avenue, NW – will open in 2018 and 2019 respectively and combined will account for over 50 000 square feet of retail space and almost one million square feet of office space.
“We love that restaurants can become pioneering place-makers for their communities,” said Danny Meyer. “The Capitol Crossing project represents an irresistible opportunity to bring culinary excellence and hospitality to this emerging corner of DC. We’re excited to serve the people who live, work in, and visit this newly flourishing area.”
Capitol Crossing is restoring the original L’Enfant Plan by re-connecting Capitol Hill and East End, divided by the I-395 Center Leg Freeway. Capitol Crossing will create three new city blocks supporting 2,2 million square feet of new mixed-use space in five buildings. The project is supporting 4 000 construction jobs, and – once completed – there will be an estimated 8 000 employees and residents in the five buildings. Investments and upgrades by Property Group Partners include more than USD 200 million of private funding that is paying for infrastructure and utility upgrades, new and improved roads, and revitalization of surrounding neighborhoods. Once completed, the project will grow the city’s tax base by adding more than USD 40 million in annual new property tax revenue.