National Harbor Project

I'm not sure if everyone is familar with the National Harbor project in Prince George County Maryland off of the water of Potomac right by D.C. www.nationalharbor.com

Well apparently this is going to be the biggest convention center project ever built on the east coast. The reason I bring this up here is because I know we have some of the most insightful and knowledgeable people of all forums on the Internet. And while I don't post much, I read often.

So on with the topic, what is the consensus on the National Harbor project from everyone? Personally, I still have mixed feelings on the projects in terms of its economical implication. I do believe it’s going to bring in a lot of business as it is the most expensive conventional center on the east coast rounding out to $2.1 billion and when it’s all said and done in a few years it is suppose to top off at $5 billion. Anytime a project is that expensive you better believe that it will be well maintained, secured and not ruined.

The place is practically a city of its own as it sits on 300 acres. The Prince George's Conference and Visitors Bureau is ecstatic about what its going to do for the PG economy. The NationalHarbor will apparently employ 30% of its work force from PG. Also Gaylord has donated a generous amount of money to the hospitality program at PG community college. The Gaylord Hotel has also already booked over a million rooms which is an industry record!

You would have to think that a lot of this business will overflow into the heart of PG. But I’m not exactly quite sure how I feel about it yet, in terms of PG reaping major economic benefits from the NationalHarbor. The question that I’m stomped on is will these businessmen who come for conventions for the National harbor perhaps just stay at other hotels in PG that are cheaper then the five put up at the Harbor? I would imagine the rates for those Hotels are outrageous probably surpassing $200 a night. So will they turn to cheaper but nice PG hospitality, in say Largo, Capital Heights, etc which will then in turn support our other businesses such as dining, town centers (BLV Cap), etc.

If this is the case that would be great for our town, I know for a fact that there are a ton of hotels directly off of exit 15b who are probably banking on National Harbor business to increase their occupancy and sales. I’m worried that as a town we might be putting to much faith in the NationalHarbor in terms of what it will provide for us.

A lot of this business from the NationalHarbor will be going to D.C. as well. I don’t quite understand why D.C. is shaking in their boots about this project as I image it will help them too. They won’t see any of that tax money though as the Harbor is located in PG, but it should still help them out. At this point I see near by major business competition vital for D.C. growth. Who Knows I think I’m kind of getting off topic here.

Back to the original point; how do you guys think PG hotel/lodging hospitality (which is the heart and in turn will boost other types of businesses around them) will fair? Will the NationalHarbor cause the market value and occupancy to lower, stay the same, or increase?

Also feel free to respond to any of my other comments on the National Harbor or spark your own issue or thoughts on the Harbor.

Finally, the reason why I'm so interested in the project is because I have a friend who wants me to invest some money into a hotel project located around the Capital Heights area (very close to Redskins stadium -- Fedex field and 10 minutes from the Harbor) and he keeps telling me how much the harbor will benefit us and this is an investment I cant miss. He already has 8 other investors linedup and he needs the backing of two more before we go through we this, I'm still apprehensive. So whats yours input, good investment or bad investment, please help! Thank you.

Where will they move the ghetto though? Salisbury?

Well, I don't know the area at all, but it seems like a reasonable idea to me, more so than amusement parks and the like. Conventions are great for local economies if they flock there. You have responsible people with jobs spending someone elses money. Perfect scenario. I think it makes sense for businesses to hold large conventions in places like that over say, Vegas where everyones minds are elsewhere. It seems like a good place to invest in hotels, as long as they have experience. Thats not a business for amateurs. The big boys are firmly established and unless you are doing something new and fresh you can't make mistakes.

This is going to be money. Exciting for me are the ferries/boats that are going to be going up and down the Potomac.

Old Town Alexandria will see a huge boom from this as well.

The DC area has been crying for something like this as well forever. I remember over a decade ago, as a college student, being in charge of setting up a place for a frat formal and driving around and around the beltway and seeing nothing that grabs anyone or stands out.

This place will make tons of money, and not just for PG.

Only thing is, I'm not sure how a "hotel project" near this mega-hotel is a good idea...any other business near it, I'd say yes in a heartbeat.

Lord Syntax wrote:

Where will they move the ghetto though? Salisbury?

Yeah, the area isn't the greatest. Particularly the area where the Harbor was built right in the Oxyn Hill area which is suppose to be real bad. But in terms of Capital Heights their are five prominent respectable Hotel chains there and they seem to be doing well, so with or without the Harbor corporate business is still flowing through there.