Douglas Development Corp. is working with the District to secure $38.5 million in federal loan guarantees to back its New City DC project near Ivy City, arguing it can't get the project off the ground without the backing.

The 1.6 million-square-foot project is “not financially feasible” without the loan guarantee as the company “cannot attract additional private financing” unless it gets access to that $38.5 million, city officials wrote in an application, citing information from Douglas, posted to the District's website Sept. 21.