Amtrak announced a $7 billion project for a major renovation to DC's iconic Union Station with the goal of tripling the passenger capacity of the already busy rail station in the heart of the nation's capital. A central part of the announcement is Burnham Place, the large mixed use real estate project set to begin over the tracks behind the station being led by Akridge, a leading DC developer.
Officials from USHSR participated in the press conference held at Union Station, along with officials from Amtrak, Akridge and the government. "This is exciting news for high speed rail, for Washington DC, and for America as we continue to invest in rail as an important mode of transportation," said Andy Kunz, USHSR President. "Congratulations to Amtrak and Akridge for having the vision to see the future which includes a major emphasis on rail travel in America!" added Kunz.
"This is an exciting time to be in the rail industry as well as transit oriented development real estate," said Joseph Shelhorse, USHSR VP for Business Development. "This is a great example of the type of projects we are advocating for our members." added Shelhorse.
Burnham Place is envisioned as a major commercial, retail, and residential hub for the entire DC metropoliten area. Early projections for the project include 1.5 million square feet of office space, more than 1,300 residential units, 500 hotel rooms, and 100,000 square feet of retail space.
"Burnham Place will demonstrate the District's ability to execute on a technically ambitious, transitbased, smart growth project matched by few cities around the world," said Chip Akridge, Chairman of Akridge. "We are incredibly passionate about this project, as it represents a unique opportunity to stimulate growth and progress in the D.C. Metropolitan area for decades."
"This is one of the nation's great projects to lead a full buildout of high speed rail across America as shown in our national HSR map. "This will be the beginning of a new real estate development boom across the country centered around rail systems." said USHSR's Andy Kunz.