Washington, D.C. Wharf bonds paid off early
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D.C. Deputy Mayors Office
The Office of the Deputy Mayor for Planning and Economic Development in Washington, D.C. delivered some good news to the city this week by revealing an early pay-off of $198 million of bonds used to finance The Wharf mixed-use development project.
“The Wharf has been a tremendous success story for how the District has leveraged public-private partnerships to transform underutilized space into new and vibrant neighborhoods,” said Deputy Mayor Nina Albert.
“We will continue to successfully employ this model for other areas of our waterfront that will create mixed-use development and produce jobs, housing, and tax revenue for the District.”
The Wharf is a $3.6 billion mixed-use waterfront development located in Southwest Washington D.C. along the Washington Channel that encompasses 3.5 million square feet of development including residences, offices, hotels, retail, restaurants, and hospitality along with marinas and piers.
Phase 1 delivered in 2017, and the final phase delivered in 2022.
The redevelopment of the Southwest Waterfront was aided by the District’s issuance and sale of Tax Increment Financing revenue bonds in 2015.
According to DMPED, “This repayment will occur 15 years before their scheduled maturity in 2040. Sales and real property taxes generated at the Wharf, now totaling over $50 million annually, will no longer be dedicated to the payment of debt service on The Wharf Bonds, and instead will become available to the District’s General Fund.
Taxes above the base amount collected prior to redevelopment, and certain other dedications such as amounts directed to the Washington Convention Center Fund, are dedicated solely to repayment of Wharf Bonds.
The Wharf development team led by Hoffman & Associates and Madison Marquette sold their interest in 2025 to PSP Investments for $1.8 billion.
The news offers a financial respite to the city as it continues to
The city is also in the midst of planning a $3.7 billion, 180-acre mixed-use
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