June 20, 2012

Construction to Begin on Lumber Shed

Washington D.C. (June 20, 2012) -­‐-­‐ Construction is set to begin next week on the Lumber Shed,
the latest component to be developed at The Yards, the 5.5 million SF redevelopment of the former
Navy Yard property near the Nationals’ ballpark in the Capitol Riverfront district of Washington
D.C. The Lumber Shed, a historically protected, former Navy Yard industrial building, is undergoing
an adaptive reuse transformation that will result in the creation of a
30,000 SF, two-­‐level, glass pavilion with several sit-­‐down restaurants on the ground floor and
office space on its upper level. The Yards is a development of Forest City Washington.

The Lumber Shed is located on Water Street at Third Street SE, at the north edge of the popular
Yards Park, near the waterfront. Upon completion in the third quarter of 2013, the project
plans to offer space for five restaurants on its ground level, all with expansive glass, as well as

inside/outside seating to take advantage of the location’s scenic park and waterfront views. 

Earlier this year, Forest City Washington announced the signing of the initial restaurant to be
located in the Lumber Shed. Osteria Morini, a convivial Italian restaurant concept of the New York
City-­‐based Altamarea Group, is expected to open a 4,250 SF location in the building’s southeast
corner, facing the park and the waterfront. Well-­‐known Chef Michael White, a partner in the
Altamarea Group, plans to make the Lumber Shed the first D.C. metro area
location for one of his restaurants. There are currently two NYC-­‐area locations of Osteria Morini

in SoHo and Bernardsville, NJ. The signing of a second restaurateur for the Lumber Shed is
expected to be announced later this summer.

“We’re very excited to be able to begin construction on the Lumber Shed at The Yards,” said
Deborah Ratner Salzberg, president of Forest City Washington. “Its location on the waterfront,
surrounded by the wonderful Yards Park and the expected offering of outstanding dining options,
adds yet another impressive facet to the growing attributes of The Yards.”

The Lumber Shed becomes the third project component currently underway at The Yards. Another
adaptive reuse component, The Boilermaker Shops, is expected to open later this year. The
Boilermaker Shops is slated to feature a brewpub, a bakery, several restaurants and a dry cleaner,
in addition to other non-­‐food/service retailers yet to be announced.

Excavation is currently underway in preparation for a construction start later this summer on a
new-­‐construction residential/retail project on Fourth at M Sts. SE to be known as Twelve12. It is
expected to offer 218 apartment units with a 50,000 SF, full service Harris Teeter grocery store at
street level and a 28,000 SF fitness club/salon/spa facility in an adjacent building, as well as
9,000 SF of additional retail space . Twelve12 is scheduled to be completed in early 2014.

Completed components at The Yards include the Foundry Lofts Apartments, a 170-­‐unit residential
building including 34 two-­‐level penthouse units, which opened in December 2011 and is now nearly
fully leased. Foundry Lofts also includes a Potbelly Sandwich Works location which opened this past
March as well as Kruba Thai & Sushi which is expected to open in July. The Yards Park opened in
fall 2010.

The Yards is a multi-­‐phase, urban mixed-­‐use, redevelopment project on the waterfront in the
Capitol Riverfront district which, at full build-­‐out, is expected to offer approximately 2,700
residential units for lease and for sale, 300,000 SF of retail/restaurants/entertainment/services
and 1.8 million SF of office space. .

Forest City Washington is the Mid-­‐Atlantic hub of Forest City Enterprises, Inc., a national real
estate development/management firm with projects/properties in 28 states, the District of Columbia
and Puerto Rico. Additional information about Forest City Enterprises, Inc. can be found online at
www.forestcity.net.