Operations
Washington Harbour proved popular with the public. By spring 1987, the Japanese restaurant Hisago had opened, along with a pastry shop and delicatessen. Under construction were Tony & Joe's Seafood Place, China Regency (a Chinese restaurant), Jaimalito's Cantina (a Mexican restaurant), and a French restaurant. In the evenings, hundreds of businesspeople, cyclists, joggers, nearby residents, and tourists flooded the complex to enjoy the fresh air, water, and fountain. Rowers once worried that the complex would draw too much boat traffic, but scullers and rowers enjoyed a new-found popularity as their sport became visible to local residents who could watch them practice and compete from the Washington Harbour boardwalk. However, about 100,000 square feet (9,300 m2) of the 560,000 square feet (52,000 m2) of planned office space was not finished or occupied at the time the complex opened due to a lack of tenants.
In the fall of 1986, Western Development reduced the level of its investment in Washington Harbour. The company had won the right to develop Market Square, a $200 million mixed-use development project on Pennsylvania Avenue NW between 6th and 7th Streets NW. But Western Development failed to raise the necessary financing to build Market Square, and was forced to add as partners on the projec the Texas-based real estate development company Trammell Crow and Dutch Institutional Holding Co., the largest public pension fund in the Netherlands. Subsequently, Western Development sold some of its investment in Washington Harbour to the other partners. This left CSX Corporation (the successor to the Chessie System) with 25.5 percent of the project, Western Development with 24.7 percent, KanAm with 9 percent, and a group of individual partners with 40 percent.
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Famous quotes containing the word operations:
“It may seem strange that any road through such a wilderness should be passable, even in winter, when the snow is three or four feet deep, but at that season, wherever lumbering operations are actively carried on, teams are continually passing on the single track, and it becomes as smooth almost as a railway.”
—Henry David Thoreau (1817–1862)
“A sociosphere of contact, control, persuasion and dissuasion, of exhibitions of inhibitions in massive or homeopathic doses...: this is obscenity. All structures turned inside out and exhibited, all operations rendered visible. In America this goes all the way from the bewildering network of aerial telephone and electric wires ... to the concrete multiplication of all the bodily functions in the home, the litany of ingredients on the tiniest can of food, the exhibition of income or IQ.”
—Jean Baudrillard (b. 1929)
“Plot, rules, nor even poetry, are not half so great beauties in tragedy or comedy as a just imitation of nature, of character, of the passions and their operations in diversified situations.”
—Horace Walpole (1717–1797)