The District of Columbia announced yesterday that it has reached an agreement with a private developer to head up a $1.1 billion redevelopment of its southwest waterfront, and that the city plans to provide $200 million of tax increment financing and bonds backed by payments in lieu of taxes to help finance the project.

Mayor Adrian Fenty said at a press conference that Hoffman-Streuver Waterfront LLC, a team of companies and groups led by district-based PN Hoffman and Baltimore-based Struever Bros. Eccles & Rouse, will take on the massive overhaul of the waterfront area where the Anacostia and Potomac Rivers meet. The Struever Bros. firm built much of Baltimore’s waterfront, as well as similar projects around the country.

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