Business & Tech

Partnership with National Harbor Developer Fizzles on Rock Spring Center Project

The long-planned mixed-use project will still move forward, developers told Capital Business.

National Harbor developers the Peterson Cos. have pulled out of their stake in developing Rock Spring Centre, a long-planned mixed-used development at a 53-acre site near Rock Spring Drive, the Washington Post’s Capital Business blog reports.

The Peterson Cos. partnered with developers DRI Development Services in February, announcing that Peterson would develop the retail and entertainment portions of the project, Capital Business reported.

“As we negotiated it over eight months, the devil is in the details, and the bottom line is we weren’t able to truly come together on the details,” Taylor Chess, senior vice president of retail for Peterson, told Capital Business.

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Other companies have expressed interest in Peterson’s stake in ownership, and the project will still move forward, a DRI representative told Capital Business.

Rock Spring Centre was approved by the county planners in February 2011. Plans call for two office towers totaling nearly 550,000 square feet, 210,000 square feet of retail space, a 40,000 square foot health club, 161 residential units, and 90,000 square feet of entertainment space anchored by a Silverspot luxury movie theater.

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