• LCOR’s Public/Private Development Track Record a Key Factor in District Decision

WASHINGTON, D.C. (July 10, 2008) — Mayor Adrian M. Fenty today announced that the District of Columbia has selected LCOR as its development partner for the Tenley Library/Janney Elementary School site in Northwest Washington.

“We’ve got a real opportunity to leverage this site to help pay for the cost of improving Janney Elementary, enhance the existing open space and add both market-rate and workforce housing — all atop a Metro station,” Mayor Fenty said. “LCOR is a highly capable developer. They know how to make public-private partnerships work.”

The District selected LCOR after issuing a competitive solicitation in the fall of 2007. Three development teams responded to the solicitation. The teams were evaluated on vision, financial capacity and past performance.

LCOR has proposed building 174 units of market-rate and workforce housing, primarily above the future Tenley library and a portion of the land that lies between the library and Janney Elementary School. A retail component across Wisconsin Avenue from the Tenleytown/American University Metro station also is envisioned as part of the project. LCOR will develop the school and library while developing the nearby apartments.

LCOR will work closely with the District of Columbia Public Library to ensure a quality integrated facility that provides a vibrant, mixed-use learning and living environment that is architecturally engaging and LEED (Leadership in Energy and Environmental Design) certified.

Specific terms of the agreement between the District and LCOR are still to be determined.

LCOR has a 30-year history in the Washington, D.C. region. Notably, the company designed and built another public school (James F. Oyster Elementary) in Northwest Washington as part of a public/private partnership. That project was completed in 2001.

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