tag:blogger.com,1999:blog-22305958.post7373952844564074786..comments2024-03-25T18:50:15.135-04:00Comments on DCmud - The Urban Real Estate Digest of Washington DC: The Giant Mess of Greenbelt StationKenhttp://www.blogger.com/profile/08295461340042242438noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-22305958.post-64354654622916161832010-03-31T16:20:58.700-04:002010-03-31T16:20:58.700-04:00Crime rates in Greenbelt are not increasing signif...Crime rates in Greenbelt are not increasing significantly. In fact, the crime rate has been dropping over the past decade. There is less crime in Greenbelt today than there was in 2000. There was a small spike in crime rates about two years ago, but even that did not reach the levels of ten years ago, and crime has since continued its long-term decline. I doubt that crime is much of an issue for any potential developers in the Greenbelt area.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-36826733138872977212010-03-28T22:09:31.721-04:002010-03-28T22:09:31.721-04:00something has to happen here someday soon. it'...something <i>has</i> to happen here someday soon. it's damn near impossible, when you think of the odds, that nearly every green line station in PG county would be so underutilized as a transit-oriented development node, unlike they way it's worked in arlington. of course, if you don't plan well, this is what you get.IMGophhttps://www.blogger.com/profile/10389077782536090328noreply@blogger.comtag:blogger.com,1999:blog-22305958.post-49135670791795654722010-03-26T14:00:29.614-04:002010-03-26T14:00:29.614-04:00Great article, but it just scrapes the surface. T...Great article, but it just scrapes the surface. The lies and shady deals go back at least 25 years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-54457430060666260652010-03-25T17:19:28.971-04:002010-03-25T17:19:28.971-04:00Financing new construction for large projects toda...Financing new construction for large projects today is very, very difficult and requires a much larger equity percentage to qualify. Moreover, many of the developers who realistically considered getting involved in this development have either gone out of business or no longer have the equity and capital resources to commit to a project like this. The former Springhill Lake apartments were sold and it is doubtful the curent owner is happy with the results after purchasing that project over a year ago. New development projects are stalled in locations all over the DC region and until the lenders begin to unlock the ability to finance these projects at reasonable ltv levels, this project will sit dormant. Yes, it is a good location with access to metro, but, this area has also seen an unprecedented number of foreclosures and lower residential values. There have also been increasing issues with crime in the immediate Greenbelt area. Crime rates are increasing significantly in Greenbelt and the surrounding areas. This doesn't help when it comes to new development. Any developer and lender will check the local crime statistics when thinking about making a huge investment in any given area. I think it will be a long time before we see any meaningful new projects at this location.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-55420776598580493752010-03-24T13:46:23.331-04:002010-03-24T13:46:23.331-04:00It's a shame. it looks like it had a lot of po...It's a shame. it looks like it had a lot of potential to be even larger if they could have somehow gotten the springhill lake apts and beltway plaza involved. That whole triangle between 193/496 and the metro tracks could change that whole part of the countyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-8768655167706188082010-03-24T12:17:15.061-04:002010-03-24T12:17:15.061-04:00It's a great location. An excellent use of TOD...It's a great location. An excellent use of TOD principles. I'm sure when the economy improves, someone will move in. It's just a shame that all this happens now when the economy doesn't really help matters.adelphi_skyhttps://www.blogger.com/profile/15280902548303026408noreply@blogger.com