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The booming Capitol Riverfront neighborhood is about to get another major development project. Metro announced today that it has selected a team of developers to build on a valuable site just a block from the Navy Yard Metro station.

MRP Realty and CAS Riegler Companies beat out two competitors with a bid for 126 condos and 6,000 square feet of ground-floor retail. The 14,100-square-foot site at Half and L streets SE is currently occupied by Metro’s chiller plant, which cools the air in the Navy Yard and Waterfront stations. The developers will integrate the chiller plant into their new building. While construction is underway, they will “use temporary chilling equipment to keep the stations comfortable,” according to a Metro press release.

Metro received proposals for the site from three development teams earlier this year. Akridge wanted to build an office building there, while Trammell Crow proposed a residential building.

Metro’s board of directors swill needs to approve the development agreement with MRP and CAS Riegler. Construction is expected to start in 2016, according to Metro.

Image via Google Maps