Tuesday, June 18, 2013
CREW EDU Tour of Progression Place - 1805 7th Street

The CREW DC EDU Committee sponsored the CREW EDU evening event, which took place in June 2013. Over wine and gourmet treats at Progression Place, attendees heard Elizabeth Pollitt Paisner, Senior Policy Analyst for the Office of Economic Development Finance for the Government of the District of Columbia, lead a thought provoking discussion from esteemed panelists: Chip Ellis, President and CEO of the Ellis Development Group; Steve Cassell, a Principal and Vice President of Development for Four Points, LLC; and Dennis Perkins, Principal of Civitas Commercial Real Estate Services, LLC.

The panel focused on Progression Place, a new mixed-use development featuring office, luxury multifamily residences, and retail components. The development, which stands atop the Shaw Metro station, fills an entire block at 1805 7th Street NW.  The discussion highlighted the complexity of building a mixed-use project in a non-traditional office or high-rise residential neighborhood. Chip Ellis let CREW members in on the fascinating history of bringing the neighborhood, the city, WMATA, and office tenants together. Steve Cassell delved into the intricacies of creating a capital stack that works when trying to lure tenants from out of town, deal with water table issues, and make it through a financial crisis. Dennis Perkins told the story of working both sides of the deal by bringing United Negro College Fund (UNCF) to the space and then marketing the additional office space to like-minded organizations.

This insightful evening ended with a tour of UNCF’s beautiful and functional new space, a look at the dazzling views from the shared rooftop. By the end of the evening, we were all ready to move our offices to the available space, and to sign on the dotted line for one of the soon-to-be completed apartments.