\nJBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today announced 11 new restaurant and bar concepts coming to National Landing\u2019s reimagined Water Park this summer.<\/p>\n
This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230504005358\/en\/<\/a><\/p>\n Water Park in National Landing (Photo: Business Wire)<\/p>\n<\/div>\n \nThe project will serve as a reimagined community gathering place animated by innovative dining, entertainment venues, public seating areas, and significant landscape improvements. Nine of the new eateries will be located in 300-square-foot kiosks lining Crystal Drive, each meant to serve as incubator opportunities for up-and-coming culinary talent. The lineup, which features a diverse and eclectic blend of cuisines conceived by a host of emerging local, minority- and women-led businesses, includes:<\/p>\n \nIn addition to the kiosks, JBG SMITH has entered into an agreement with STHRN Hospitality, the Atlanta-based culinary and creative group that led the creation of the popular, talent-focused Atlanta Food & Wine Festival in 2010 as well as several food-hall concepts and other diverse culinary and entertainment events, to anchor a 1,400-square-foot full-service restaurant set into the hillside. Water Bar, the iconic new community gathering spot, will feature a raw bar focused menu and extensive cocktail list from an open-air terrace perched atop the modernized fountain water wall. STHRN Hospitality will also operate Crush Pizza, which will serve creative New York style whole pies and slices, salads, and a curated selection of wine by the glass.<\/p>\n \nThe new vision for Water Park, a roughly 1.6-acre open space in the heart of National Landing, will complement the broader redevelopment efforts in the neighborhood. JBG SMITH is expected to deliver more than 5,000 new multifamily units, with 1,583 already under construction, and in June, Amazon will open its 2.1 million square foot headquarters that will house the more than 8,000 local employees it has hired to date.<\/p>\n \n\u201cOur primary intent in designing and programming Water Park was to create an authentic urban community that echoes and embraces the region\u2019s diverse culture,\u201d said Amy Rice, Senior Vice President of Retail Leasing at JBG SMITH. \u201cWe\u2019re especially excited to introduce National Landing\u2019s residents, workers and visitors to this dynamic mix of emerging culinary talent.\u201d<\/p>\n \n\u201cWe\u2019re thrilled to work with JBG SMITH to bring this incredible new destination to life,\u201d said Kelly Campbell, co-founder of STHRN Hospitality. \u201cWater Park will be an inspiring setting. We look forward to further animating the space through a series of unique lifestyle events and community programming.\u201d<\/p>\n \nAdditional elements of the redesigned Water Park include a live performance stage, an interactive water feature, public art installations, and a trailhead building adjacent to the Mt. Vernon Trail equipped with public restrooms and bike facilities. JBG SMITH is also coordinating with Virginia Railway Express on a handicap accessible connection to the future entrance of the relocated VRE station.<\/p>\n \nJBG SMITH previously received approval from the Virginia Alcoholic Beverage Control Authority to establish a consumption zone in National Landing, allowing patrons of Water Park\u2019s licensed alcohol retailers to enjoy beverages within its boundaries. Through this new Commercial Lifestyle Center designation, visitors and residents will be able to \u201csip and stroll\u201d throughout the park.<\/p>\n \nJBG SMITH\u2019s ongoing placemaking efforts in National Landing have led the charge in creating meaningful places meant to connect communities and enhance the lives of those that live, work, or visit them. In addition to the small and local businesses its welcoming at Water Park, JBG SMITH\u2019s Dining in the Park project will similarly transform and reactivate the courtyard in front of 2121 Crystal Drive with a novel culinary experience set among more than an acre of greenery. Dining in the Park will house renowned Seven Reason\u2019s chef Enrique Limardo\u2019s new concept Surreal in late summer, further demonstrating National Landing as home to some of the best, brightest, and most diverse talent in the culinary industry.<\/p>\n About JBG SMITH<\/b><\/p>\n \nJBG SMITH owns, operates, invests in, and develops mixed-use properties in high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Approximately two-thirds of JBG SMITH’s holdings are in the National Landing submarket in Northern Virginia, which is anchored by four key demand drivers: Amazon’s new headquarters, which is being developed by JBG SMITH; Virginia Tech’s under-construction $1 billion Innovation Campus; the submarket\u2019s proximity to the Pentagon; and JBG SMITH\u2019s deployment of next-generation public and private 5G digital infrastructure. JBG SMITH’s dynamic portfolio currently comprises 15.3 million square feet of high-growth office, multifamily, and retail assets at share, 98% of which are metro-served. It also maintains a development pipeline encompassing 9.7 million square feet of mixed-use development opportunities. JBG SMITH\u2019s capital allocation strategy is to shift the majority of its portfolio to multifamily and concentrate its office assets in National Landing. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nCertain statements contained herein may constitute “forward-looking statements” as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations, and beliefs and are subject to numerous assumptions, risks and uncertainties. Consequently, the future results of JBG SMITH Properties (“JBG SMITH”) may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as “approximate”, “believes,” “expects,” “anticipates,” “intends,” “plans,” “proposed,” “would,” “should,” “may,” or similar expressions in this press release. We also note the following forward-looking statements: final completion and opening dates as well as any design or service expectations. Many of the factors that will determine the outcome of these and our other forward-looking statements and plans are beyond our ability to control or predict. These factors include, among others: adverse economic conditions in the Washington, DC metropolitan area, the timing of and costs associated with development and property improvements, financing commitments, and general competitive factors. For further discussion of factors that could materially affect the outcome of our forward-looking statements and other risks and uncertainties, see “Risk Factors” and the Cautionary Statement Concerning Forward-Looking Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and other periodic reports the Company files with the Securities and Exchange Commission. For these statements, we claim the protection of the safe harbor for forward looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements after the date hereof.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230504005358\/en\/<\/a><\/span><\/p>\n \nMedia \nSamantha Schmieder \nInvestor Relations KEYWORDS:<\/b> District of Columbia Maryland United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> General Sports Sports Restaurant\/Bar Other Retail Theme Parks Food\/Beverage Retail Entertainment<\/p>\n![\"Water](\"https:\/\/mms.businesswire.com\/media\/20230504005358\/en\/1783510\/4\/2849_WaterPark_night_aerial_6400_labeled.jpg\")
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Bud Perrone
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Rubenstein
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Managing Director
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(212) 843-8068
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bperrone@rubenstein.com<\/a><\/p>\n
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JBG SMITH
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Corporate Communications Manager
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(240) 333-7706
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sschmieder@jbgsmith.com<\/a><\/p>\n
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Barbat Rodgers
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JBG SMITH
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Senior Vice President, Investor Relations
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(240) 333-3805
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brodgers@jbgsmith.com<\/a><\/p>\n
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