Monty Hoffman
Monty Hoffman
Founder and Chairman at Hoffman & Associates
The grand opening of the second phase of waterfront development The Wharf — which will complete the $3.6 billion mixed-use project along the Potomac River — is set for Oct. 12, though some of the spaces will be occupied before that.
In fact, law firm Williams & Connolly will be moving into its 300,000-square-foot space at 680 Maine Avenue SW in May. The Atlantic magazine will be on its heels, opening on the top two floors of office space within 610 Water Street this summer.
“Despite the supply-chain disruptions and COVID protocols, we were able to maintain schedules,” said Monty Hoffman, whose firm is developing the property with Madison Marquette. “Not only from the brick-and-mortar construction standpoint, but also from the retail and office lease-up.”
The 255-unit The Tides apartment building will start move-ins in July, with the 131-room, five-star Pendry Hotel, not far behind.
“It’s going to be really cool because D.C. is a waterfront city, and we’re really expanding how people are able to embrace the waterfront here,” Hoffman said.
Hoffman & Associates started construction in 2021, too, on the $200 million-plus Waterfront Station II, a mixed-use project in D.C.’s Northwest neighborhood, which will have 449 homes, including 136 apartments available to households earning less than 50 percent of the area median income. The company partnered with HC, City Partners and Paramount Development for this deal.
Hoffman’s company has also turned more attention to Northern Virginia over the last year, including teaming with Snell Properties on the planned development of a 504-unit multifamily at the site of a former Ballston hotel. It also broke ground on a West Falls Church development on May 19, which will include 325,000 square feet of office space (specifically medical space), a 146-room hotel, 215 senior housing units and more than 123,000 square feet of retail.
“Northern Virginia is doing so well, and we all know about the Amazon effect, but just in general, and we want to be a part of that,” Hoffman said, referencing the e-commerce giant’s HQ2.
Hoffman & Associates is also expanding more into North Carolina — especially in Raleigh, where its $300 million redevelopment of the Seaboard Station neighborhood began in 2020.
“In the year ahead, our strategy is going to be pretty much the same,” Hoffman said. “We’re working community development, mixed-use projects along with straight-up apartment buildings.”
