Robert Swennes

Swennes said that Brookfield is focusing on delivering the best kind of building in each class, even for buildings that aren’t particularly new. “That doesn’t mean we only own trophy office buildings,” he said. “But within a rent band we are the best offering within that rent band. We’ve heavily invested in amenities.”

In terms of new construction, Brookfield has two big developments underway in the Virginia suburbs and a third in the District proper. In Reston, it’s working on Halley Rise, a mixed-use project next to the Reston Town Center Metro stop (slated to open later this year as part of the Silver Line extension to Dulles). The development includes two existing office buildings, and, at the end of 2021, Brookfield opened a 353-unit residential building there, The Edmund. When it’s complete, the project will include 1.9 million square feet of office, 240,000 square feet of retail, 1,600 apartments and more than five  acres of open green space.

Brookfield’s also working on pre-development approvals for a 2 million-square-foot, mixed-use project next to the Pentagon City Metro station, known as 12th Street Landing. The lot is currently home to a pair of office buildings that once housed the headquarters of the Transportation Security Administration.

Finally, Brookfield is developing The Yards, a massive residential, office and retail development on former Navy Yard property along the Anacostia River. The project is roughly 40 percent complete, with 11 finished buildings that include a 225-room flagship Thompson hotel, apartments, retail and open space. It opened a 300,000-square-foot office building there last year leased entirely to biotech company Chemonics. When it’s complete, The Yards will have 25 buildings with 3,400 apartments, 400,000 square feet of retail, 1.8 million square feet of office, and a waterfront park across 48 acres.