WBJ: Neil Albert keeps the RFPs coming, but can he deliver?

The Washington Business Journal has been keeping tabs on how the banking crisis is influencing construction inside the district. Most recently they put the focus on the RFPs that Neil Albert, the Deputy Mayor of Economic Development, has awarded.

Neil Albert keeps the RFPs coming, but can he deliver?

There article does mention the 5th and Eye RFP:

James “Jad” Donohoe, development director of Donohoe Development Co., expects the earliest he goes into the ground for his hotel-residential project at Fifth and Eye streets NW in Mount Vernon Triangle will be a year after the council approves it. The approval itself not expected for at least a year.

The project will be financed by a sovereign wealth fund, he said. “We’re talking to people we wouldn’t have been using a few years ago. We’re casting the net a little bit wider.”

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  1. 1

    Anonymous says

    And so it begins. We are now turning to the wealth of other nations to finance our own construction projects. This is wealth the US more than likely helped generate by sending our hard earned dollars overseas in the form of petrodollars (depending on the country of course).

  2. 2

    Cozmot says

    Albert has actually done something, whereas the National Capital Revitalization Corp. and the Anacostia Waterfront Corp. were failures that just wasted tax dollars. Albert has issued 15 RFPs and selected partners for eight projects. He’s already delivered. If any of the developers fail to move forward because of funding problems, this will be due to deteriorating conditions in our economy, not anything on Albert’s part.

    Deputy Mayor Albert and Mayor Fenty for selecting him deserve nothing but kudos for breaking down the old bureaucratic walls that hindered this kind of progress.