[Federal Register Volume 63, Number 193 (Tuesday, October 6, 1998)]
[Notices]
[Pages 53696-53697]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-26697]


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DEPARTMENT OF THE INTERIOR

National Park Service


Proposed Land Exchange: Alexandria Waterfront, Alexandria, 
Virginia

SUMMARY: Notice is hereby given that the National Park Service (NPS) is 
proposing to conduct an exchange of land interests with , a Delaware 
corporation, WATERFRONT I CORPORATION, A Delaware corporation, 
CORNERSTONE 99 CANAL, L.L.C., a Delaware limited liability company and 
CORNERSTONE 11 CANAL, L.O.C., a Delaware limited liability company, the 
owners of the TransPotomac Canal Center office park located in 
Alexandria, Virginia, (owners).

FOR FURTHER INFORMATION CONTACT:
Chief, Land Resources Program Center, National Capital Region, National 
Park Service, 1100 Ohio Drive, SW., Washington, DC 20242.

SUPPLEMENTARY INFORMATION: Public Law 90-401, enacted July 15, 1968, 
authorizes the Secretary of the Interior to accept title to any non-
Federal property or interest therein within a unit of the National Park 
System or miscellaneous area under his administration, and in exchange 
therefor he may convey to the grantor of such property or interest any 
Federally-owned property or interest therein under his jurisdiction 
which he determines is suitable for exchange or other disposal and 
which is located in the same State as the non-Federal property to be 
acquired. Such an exchange of land or interests therein must be 
conducted in accordance with all NPS Land Exchange Guidelines and 
provide the appropriate Congressional committees a 30-day period in 
which to examine the exchange proposal.
    By virtue of a Deed dated April 18, 1983, and recorded among the 
Land Records of the City of Alexandria, Virginia, in Deed Book 1111, 
Page 1351, the United States acquired certain interests in real 
property located adjacent to the shoreline of the Potomac River in 
Alexandria, Virginia. The property is more particularly described as 
``Parcel B'' in the aforementioned Deed, and is currently improved by 
four (4) commercial buildings which comprise the TransPotomac Canal 
Center office park located at Canal Center Plaza, Alexandria, Virginia. 
The interests in real property acquired by the United States restrict 
the future use of portions of the above referenced property. A 
particular restriction placed upon the property by the United States 
requires that 30,000 square feet of floor space within specified 
portions of the TransPotomac Canal Center office part be devoted to 
non-office uses. In requiring a portion of the property to be dedicated 
to non-office uses, the United States intended to create a lively and 
vibrant waterfront through the establishment of commercial enterprises 
that would attract the public to this segment of the waterfront.
    However, throughout the ten (10) year history of the TransPortomac 
Canal Center office park, the owners have been unable to attain a 
profitable occupancy rate of that portion of their development which is 
subject to the use restrictions implemented by the United States. The 
local market conditions which have hampered the owners' efforts to 
attract and sustain non-office users to the TransPotomac Canal Center 
have also hindered the creation of a lively and vibrant waterfront to 
this portion of the Alexandria Waterfront as envisioned by the 
implementation of the Deed restrictions. Thus, until market conditions 
for attracting non-office users to the TransPotomac Canal Center 
improve, the owners are desirous of the United States relinquishing for 
a period of ten (10) years, its interests in restricting the use of 
30,000 square feet of floor space to non-office uses. In return for the 
United States releasing the owners from the non-office use restriction 
for a period of ten (10) years, the owners have agreed to provide the 
United States with a leasehold interest for a term of ten (10) years, 
to run concurrently with the term for which the United States will 
relinquish its interests in restricting the use of a portion of the 
owners development, for the use and occupancy of approximately 3,300 
square feet of retail/office space in 44 Canal Center Plaza, 
Alexandria, Virginia, together with reserved parking

[[Page 53697]]

for six (6) vehicles within the TransPotomac Canal Center parking 
garage.
    The NPS has concluded that the proposed exchange of land interests 
will have no impact either directly or indirectly on natural or 
cultural resources associated with the waterfront of Alexandria, 
Virginia. Due to the nature of the land interests to be exchanged, the 
NPS concluded that a survey to determine the presence of contamination 
was not required. The NPS has also determined that the 10-year 
leasehold interest the owners will convey to the United States in 
addition to the owners' agreement to provide continued support to 
promote a lively and vibrant waterfront through the sponsorship of 
certain public events and to actively engage in marketing the 
designated non-office space for lease by non-office users are 
approximately equal in value to that of the United States' 10-year 
relinquishment of certain restrictions currently imposed upon a portion 
of the owners property and as such will not require an appraisal of the 
interests in land to be exchange.
    Detailed information concerning this proposed exchange is available 
from the Land Resources program Center National Capital Region, 
National Park Service, 1100 Ohio Drive, SW., Washington, DC 20242.
    For a period of 45 calender days from the date of this notice, 
interested parties may submit comments to the above address. Adverse 
comments will be evaluated and this action may be modified or vacated 
accordingly. In the absence of any action to modify or vacate, this 
realty action will become the final determination of the NPS.

    Dated: September 28, 1998.
Terry R. Carlstrom,
Regional Director, National Capital Region.
[FR Doc. 98-26697 Filed 10-5-98; 8:45 am]
BILLING CODE 4310-70-M