Near Southeast DC: Past News Items - Sep 22, 2008
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Metro Board to Vote on N22 Bus Changes
Sep 22, 2008 1:47 PM
As I wrote a few days back, there are apparently plans to add a DC Circulator bus route in spring 2009 that would run between Union Station, the new US Capitol Vistors' Center (if it ever actually opens), and the Navy Yard station entrance at New Jersey and M (two blocks from Nationals Park). Since it would run on a similar route to Metro's N22 bus, Metro would then discontinue the N22, a move which requires a public hearing. So, on the agenda for this Thursday's WMATA board meeting is an item to both authorize the scheduling of the public meeting and also to amend Metro's FY09 budget to extend through March 2009 the current N22 service, which was expanded to evenings and weekends just before Opening Day as a way to move people to and from the ballpark. Here is more information detailing the agenda item.
One thing the board will not be voting on this week is the selection of a developer for the Navy Yard station's chiller plant site on the southwest corner of Half and L. Back in July there were discussions by WMATA's Planning, Development and Real Estate Committee in executive session about this selection, but nothing has been announced publicly and no items on the chiller site are on any of Thursday's agendas. Waaah.

More on Monument's Lehman Entanglements
Sep 22, 2008 11:02 AM
Today's Post has a piece that gives more details on how Monument Realty has been tied to Lehman Brothers over the years, and how that might impact Monument's Half Street project: "In addition to an equity stake in Monument's Half Street project with San Francisco-based MacFarlane Partners, Lehman holds a $12 million secondary loan and Chicago-based Corus Bank holds the $72 million construction loan on the first phase of that development, a nine-story office building rising above the Navy Yard Metro stop. The rest of the project has not secured outside financing. [...] Monument began searching for another investor to buy out Lehman's positions soon after the credit markets began to tighten. Some bids were presented earlier this year, two sources familiar with the negotiations said, but Lehman rejected them as too low."
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