The Wharf, one of two ambitious developments along with Capitol Riverfront credited with reviving D.C.’s waterfronts, has been sold to a Canadian Pension Fund.
Wharf developers Hoffman & Associates, which took the mile-long development along the Washington Channel in Southwest D.C. from drawing board two decades ago to one of the region’s top dining and entertainment draws, along with development partner Madison Marquette, has transferred ownership to equity partner The Public Sector Investment Board.
“Every project we undertake follows a strategic hold plan, and for The Wharf, the time has come for a change in our role,” said Hoffman & Associates founder and chairman Monty Hoffman. “We have full confidence in our partner to carry forward our shared vision for The Wharf as we continue expanding communities across the DMV and beyond.”
Hoffman & Associates is currently involved in large-scale projects in Falls Church, Richmond and Raleigh, North Carolina. It is also in the predevelopment phase of a project at Buzzard Point by Audi Field that includes two residential buildings, office space, retail and a public park.
The second and final phase of The Wharf development was completed in 2022, bringing the total waterfront development to more than 3 million square feet. The Wharf now has more than 75 restaurants and retailers, several live entertainment venues, seven condo and apartment buildings, four hotels and some of the city’s most striking new office buildings.
Last year, Maine Avenue, Southwest, was dubbed the most expensive office address in D.C., based on asking rents, by commercial real estate services company JLL, displacing Pennsylvania Avenue from that long-held title.
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