Planning for the area began in 1960s with Forest City Enterprises, a Cleveland real estate company and the powerful Buchholzer family, whose previous endeavors involved financing much of the Chapel Hill Mall area.
Construction was a joint venture of The New York Times Company, Forest City Ratner Companies—the New York subsidiary of Forest City Enterprises, the Cleveland-based real estate firm redeveloping the Brooklyn Atlantic rail yards—and ING Real Estate.
It is a joint project of the City of Cambridge, MIT, and Forest City Enterprises.
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Proposals for the $1 billion project were received by District of Columbia Civic Development (consisting of Millennium Partners, Jonathan Rose Cos., Gould Property Co., and EastBanc Inc.); East End Redevelopment Associates (consisting of Federal Development LLC, Rockefeller Group Development Corp., Centex, and Summit Properties); Forest City-Jarvis Group (consisting of Forest City Washington and the Jarvis Group); The Georgetown Co.
Verbanac worked as consultant for Forest City Enterprises and Harrah's Entertainment in their efforts to secure a casino license from the Pennsylvania Gaming Control Board.