Friday, May 19, 2006

DC Moves Forward with Land Near Stadium


The DC Government, whom has been leasing a three-story 38,311-sf office building, located at 95 M ST. SW (essentially a Barry Bonds home run (or not w/out Balko) from the proposed site of the new Nationals Stadium) from the United Way of the National Capital Area, has stopped dragging its feet and paid $15.3 million for the property. This parcel was a hot commodity and was bid on by many local and national development companies because it is a property that provides future mixed-use redevelopment opportunities of 195,552 sf under existing C-3-A zoning and the potential for additional density through a Planned Unit Development process in the emerging ballpark district (according to GlobeSt.com). Jayne Shister, senior vice president, Cassidy & Pinkard, represented the seller, United Way of the National Capital Area. Although there are no plans yet for development, the Stadium is going up, and if they build it ... you know.

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