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Near Southeast DC Past News Items: Dec 12, 2005
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2 Blog Posts

The DC CFO's office has released updated estimates of the cost of building a new major league baseball stadium at the site currently proposed in Southeast DC and at a site adjacent to RFK Stadium. In a letter to Council Chairman Linda W. Cropp, Gandhi estimates the total cost for the proposed Southeast DC site to be $667.3 million; the cost for the site at RFK is estimated at $605.5 million. These will be hashed over at Tuesday's BYOBV (bring your own bulletproof vest) Council Roundtable, starting at 10 am, and viewable via streaming video or on DC Cable 13). UPDATE: Here is the Post's article on the new cost estimates, along with discussion about the feasibility of moving to the RFK site. UPDATE II: The WashTimes's article condenses both the updated estimates and the naming of the teams of developers for the Ballpark District.
More posts: Nationals Park
 

Today the Anacostia Waterfront Corporation named two teams of development companies to "enter into exclusive negotiations" to develop mixed-use projects on two sites in the ballpark district. Forest City Washington (developers of Capper/Carrollsburg and the Southeast Federal Center) and Western Development Corporation (Herbert Miller's company, responsible for Potomac Mills and many other projects) lead one team, and Monument Realty LLC (which has purchased many parcels of land along N and Half Streets) and The Cordish Company LLC (developers deeply involved in the Baltimore Harbor) lead the other. What does this mean? Not as much as it sounds right now--the Forest City/Western team will be negotiating with AWC to develop the 6 acres of excess land at the WASA site on 1st Street, and Monument/Cordish will be negotiating for the 3 acres of WMATA parcels along Half Street. However, at this time AWC does not own either of these properties. The teams will be working together (coordinated by Forest City/Western) to create a Development Strategy for the entire ballpark district, which is due to the AWC in draft by March 15, 2006 and in final version by April 15, 2006. The teams have committed to provide payment to the AWC through a combination of up-front payment, annual base rent, and participation in development profits. UPDATE: Here is the mayor's office press release. UPDATE II: The Post's web site now has its story about the announcement. UPDATE III: And here is the AWC's press release. UPDATE IV: Here is the Baltimore Sun's Cordish-centric story.