The next step in the process to redevelop the Metro "chiller site
" on the southwest corner of Half and L streets, SE
, is expected later this week, with the WMATA board set to vote on the term sheet
for the sale of the site to MRP Realty and CAS Riegler.
The term sheet lays out the requirements of the sale, which include the preservation of the existing chiller plant operations at or below grade level, chiller plant cooling towers on the building roof, and 500 square feet of office space for ten years for Metro staff. In addition, Metro will have five parking spaces at the building, which is currently designed to have 55 parking spaces for the 126 units.
However, because nothing ever moves swiftly with this site
, this vote just means that WMATA and MRP/CAS can then negotiate the full Joint Development Agreement, setting the terms for the purchase of the site, construction of the project, and continued WMATA operations on the site. It's not expected that agreement will come back to the WMATA board until spring--and then the closing of the sale of the site would be 24 months after that approval, which pushes the timeline into 2017.