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Search term: "$20 million" (01/01/2005-01/01/2007): 19 matching blog entries

Navy Yard Station West Entrance to Close for Construction
Dec 28, 2006 10:26 AM
A press release from WMATA: "The west entrance of the Navy Yard Metrorail station on the Green Line will close starting Tuesday, Jan. 2, 2007, through April 2008 due to construction related to the expansion of the station entrance. The east entrance on the northwest corner of M Street and New Jersey Avenue, SE, will remain open. The $20 million construction project is to increase the station's entrance capacity due to its close proximity to the new ballpark that is currently under construction. The west entrance at Half and M Streets, SE, is one block north of the future Nationals' ball park scheduled to open in April 2008. The entrance expansion includes increasing the number of fare gates and fare card machines; relocating the west entrance to the street level; installing a new elevator from the street level to the mezzanine; and installing a new stairway between the mezzanine and the platform. The present mezzanine's capacity can move up to 5,000 passengers per hour. The plan for the new mezzanine is to increase the ability to move 15,000 passengers per hour through the station. Funding for this project is being provided by the District of Columbia in anticipation of being refunded by the federal government." At the same time, Monument Realty's 55 M Street 275,000-sq-ft office building will be under construction above the entrance, as will Monument's other two offerings along Half Street, a 200-key W Aloft hotel and a 350-unit residential building at Half and N. The Monument projects will not be finished before 2009, although they hope to get the three levels of parking (700 spaces) and perhaps some of the 50,000-sq-ft of ground floor retail completed before Opening Day 2008.

WMATA Minutes on Navy Yard Station Expansion
Nov 13, 2006 10:30 AM
Last month the WMATA board of directors approved a plan to have Monument Realty oversee the $20 million expansion of the Navy Yard Metro station at Half and M, as part of Monument's construction of an office building on that site. The minutes from the WMATA Planning and Development Committee are now posted, and there was some discussion about how WMATA can ensure that the April 2008 (i.e., Opening Day at the new ballpark) deadline for completion can be met: "Mr. Tangherlini responded that WMATA has included some penalties that involve the contractor providing transportation bridge service to the L'Enfant Plaza Metro station if the scheduled completion is not met. In addition there are severe financial and operational penalties for the developer if the station is not complete by April 2, 2008."

Metro Board Approves Navy Yard Station Expansion
Oct 20, 2006 9:57 AM
At yesterday's WMATA board meeting, a resolution was approved to expand the Navy Yard Metro station at a cost of $20 million (to be paid with federal funds). The changes will be, to quote the Post, to "increase the number of fare gates and vending machines, add two elevators and relocate the station kiosk, fare gates and fare vendors from the mezzanine to the west entrance. The changes are planned for completion before the first home game of the 2008 baseball season." At the same time, the board approved the sale of the WMATA land above the Navy Yard station and the adjoining parking lot to Monument Realty, and also approved a Construction Agreement with Monument, whereby Monument will handle the construction of the station upgrades in concert with it's construction of an office building with ground-floor retail on the corner of Half and M. Monument has also agreed to reserve 20 percent of the residential units in it's other Half Street project for low- and moderate-income purchasers. And buried in the Construction Agreement documents I found a pretty snazzy rendering of Monument's planned building at Half and M, which I've added to my Ballpark District page (scroll down a tad past the map). The Construction Agreement also has detailed drawings of exactly what will be done to the station. You can also read the Sept. 21 WMATA Board Meeting minutes to see the discussion about the sale of the land. Or you can really go wild and listen to the audio from yesterday's meetings. And here's the Examiner's story on the agreements and plans.

70 I Street Building Permit Approved
Aug 30, 2006 10:37 PM
The DCRA has approved JPI's building permit application for its 70 I Street residential project, which is listed as valued at $20 million. Still pending is the permit app for 100 I Street, it's sister building to be built right next door. JPI has said that they planned to begin construction on this project in Fall 2006, so that would appear to still be on track. There's also an application filed for 909 New Jersey, JPI's other pending residential tower in Near Southeast (on the site of the Nexus Gold Club), which may also get underway by the end of the year.
More posts: 70/100 I, 909 New Jersey, jpi

Stadium Design Still Under Debate
May 4, 2006 10:25 PM
The Post's Friday story, "Stadium Dig Begins, But Design Still Up in the Air," pulls the curtain back on the stadium planning, showing that despite a groundbreaking and the beginnings of demolition and digging, the stadium design as unveiled a few weeks back is still not 100% written in stone (or concrete, or limestone).
In March, managers of the project unveiled designs for a modern-looking complex featuring massive glass panels, steel and concrete. But they are still debating virtually all the finishing details, including the layout of the concourses and clubhouses and what carpeting and upholstery to use in luxury suites, according to baseball and city officials. Even the exterior might be refined. In drawings, a distinctive knife-edge building, made mostly of concrete, juts out from the rear of the stadium bowl. But architects have developed new renderings that would recast the tip of the building in glass, allowing it to light up in different colors. [...] Significant questions remain unanswered, however. Designs call for two boxy parking structures to be built above ground just north of the ballpark, but city and baseball officials would like to move them underground to clear more room for retail and office space. That would cost an additional $20 million, money the city is seeking.
It sounds like Stan Kasten, the new team president, had a lot of input into the design of the Braves' stadium in Atlanta, and would probably want to do the same here. So, we shall see!
More posts: Nationals Park

Car Barn Gets Historic Designation
Mar 24, 2006 9:56 AM
Yesterday the DC Historic Preservation Review Board approved the Historic Landmark nomination of the Navy Yard Car Barn (aka the "Blue Castle" at 7th and M). This means that the building has now been added to the DC Inventory of Historic Sites, and is also now protected under DC's Historic Preservation Law. What does this mean for the company that just paid $20 million for the property with plans to use it for retail? We shall see.
More posts: Blue Castle, 8th Street

Stadium Overruns Still Stalling Agreement
Mar 1, 2006 12:43 AM
Thursday's Post has "Williams Digs Up More Stadium Cash", about a plan by Mayor Bow Tie to use "$20 million in excess revenue from a gross-receipts tax on businesses, a utility tax on businesses and federal buildings and taxes from concessions at Robert F. Kennedy Memorial Stadium [to pay for cost overruns on the new baseball stadium]. Those taxes were implemented last year to pay off debt service on the construction bonds. Williams aides have told baseball officials that revenue leftover after debt service can be used for overruns, if necessary." But MLB said it was unaware of the plan, council members either wouldn't comment or complained that it would violate the cap legislation. The doom and gloom portion of the article: "The latest negotiations appear to be the final chance to resolve the standoff before Monday, the deadline set by the council for MLB to endorse the spending cap. If baseball officials reject the cap, the stadium dispute could enter binding arbitration. That would cause a delay of as much as six months and open the possibility that the Washington Nationals could be moved elsewhere.Baseball officials have made it clear that they do not want the Nationals' owner to have to pay for cost overruns for the stadium along the Anacostia River in Southeast. Over the past two weeks, the Williams administration has sought to assure MLB that another source of revenue is available." Whee! Time to start up the rollercoaster again.
UPDATE, 12:37 pm: The AP reports: "Williams says he had a conference call with MLB officials today, and promises the deal will get done before Monday's deadline. The mayor says reports that he has dug up 20 million dollars to help cover cost overruns are inaccurate. He says everything he is considering is in compliance with legislation passed by the DC Council. Williams says developments over the past year have left feelings of bad faith and uncertainty on both sides. "
UPDATE, 1:57 pm: For a little bit of atmosphere as to how all this is playing, I suggest Thomas Boswell's column.
UPDATE, 2:36 pm: From early this morning, sorry I'm only now seeing it, is a DC Wire blog entry from David Nakamura with a tiny bit more detail (including that Kwame Brown is against the plan), although how this squares with the AP story from a few hours later, I don't know.

More posts: Nationals Park

Stadium Shenanigans
Feb 6, 2006 10:57 PM
An alert from the Associated Press: "D.C. Council Chair Linda W. Cropp will introduce emergency legislation on Tuesday that would cap the city's contribution to a Nationals baseball stadium at $300 million." The question is if this is just on the construction agreement, or the stadium lease agreement. If it's the lease agreement, there will probably be trouble with MLB; if it's the construction agreement, then there's probably room for maneuvering. Will post more as it comes along. UPDATE: Here is the Post's article, "D.C. Council Insists on Own Stadium Cost Cap." From the article: "The legislation, Cropp said, would cap the city's payments for labor and materials for the ballpark at $300 million, along with an additional $20 million that MLB promised in December. Williams (D) offered the same cap last week, but council members said the mayor's cap has loopholes. The council is also considering capping the project's entire cost at between $589 million and $630 million, council members said. Emergency legislation would require nine votes among the council's 13 members for approval." And: "If the council does not approve the lease today, baseball officials might choose to pursue full arbitration, which could take up to six months to resolve." And, my own personal favorite: "During the council's closed-door meeting, which grew louder as it progressed, Cropp could be heard admonishing her colleagues. 'I'm sick of this,' she told them. 'Every time we move somewhere, you keep adding something else. I'm sick of it. I want you people to either vote it up or vote it down.' " UPDATE: Here is the WashTimes story, covering most of the same bases.
More posts: Nationals Park

FY07 Federal Budget Includes $20M for Navy Yard Metro
Feb 6, 2006 4:30 PM
The FY2007 Federal Budget, released today, includes $20 million for upgrading the Navy Yard Metro station, one of the many sticking points for council members as they fought to make sure that no money from the city's general fund will go toward any of the costs of the new baseball stadium. Here is the mayor's press release.
More posts: Nationals Park

Developers Offer $70 Million for Excess Stadium Land
Feb 3, 2006 2:44 PM
New from the Post: "Developers have offered to pay the District $70 million for the rights to build on land adjacent to a new baseball stadium, money that city leaders said will help cover potential cost overruns on the project. ... [D]evelopers have pledged to pay for the rights to develop on land within the 20 acres needed for the stadium project that is not taken up by the ballpark structure. Of the $70 million, $55 million will go to the waterfront corporation and $15 million will go to MLB. [...] With the money, the corporation will pay for upgrades to nearby roads and an underground parking garage. The corporation also pledged to pay for cost overruns related to the city's acquisition of 14 acres for the ballpark and potential environmental remediation, as well as to help with other potential overruns related to construction." Also, the council is supposed to get today a construction contract "between the D.C. Sports and Entertainment Commission and the three construction companies set to build the stadium, was to include a special "guaranteed maximum price" contract that would cap ballpark construction costs at $320 million -- including a $20 million payment from MLB." This would appear to be a big step toward alleviating some of the council's disagreements with the lease, but we will see how it shakes out. UPDATE, 4:22 pm: The Post has updated its story to say that the construction contract has been sent to the council as well: "The contract transfers the control of the project from the city to the construction companies, but also transfers the risk. The companies agreed to a guaranteed price of $320 million for the materials and labor. The price includes a $20 million payment from Major League Baseball, which the league promised in December. If the companies fail to complete the stadium by March 1, 2008, their fees will be reduced by $100,000 per day, up to a maximum penalty of $5 million, according to the documents submitted to the council. The documents also include a cap of $68 million for so-call "soft construction costs," including fees to architects and consultants."

More posts: parking, Nationals Park

Council Meets with Mediator; Cropp Letter II
Jan 20, 2006 11:48 PM
Meanwhile, Saturday's WashTimes goes with: "Council meets with mediator": "Members of the D.C. Council met yesterday with the mediator selected to help end a dispute over the lease for the Washington Nationals' new ballpark in Southeast, and council chairman Linda Cropp followed by providing Mayor Anthony Williams a revised proposal that she said will ensure a positive council vote." What does the letter say? "Cropp outlined 12 provisions requested by council members, who said they will not vote in favor of the stadium lease until the changes are made. The new proposal is similar to one presented last week, in that it calls for a cap on how much the city will contribute to the ballpark. The new letter clarifies that the city should pay no more than the $535 million being borrowed for the project, plus a $20 million contribution from Major League Baseball, $37 million raised from baseball activities in 2005 and $39 million in interest and bond premium. The new letter requests more community benefits, including a new baseball academy in the District, and more appearances by players. It also calls for assurances that the Nationals cannot terminate the lease simply by refusing to pay rent." The story also has some back-and-forth about whether the council should have been included in the lease negotiations from the beginning.
More posts: Nationals Park

Blue Castle Sold; Redevelopment Eyed
Dec 27, 2005 7:17 AM
Catching up a bit here after the holiday.... Preferred Real Estate Investments has purchased the "Blue Castle" building on the corner of 8th and M, for $20 million. According to the Post: "Executives at the Conshohocken, Pa., developer said the location of the 100,000-square-foot building makes it ideal for retail stores such as a Barnes & Noble bookstore and a Whole Foods grocery. The upscale stores eventually would supplant three charter schools that now are in the building." They hope to start construction in 2007. (And they're planning to de-Blue the building a bit, too, by painting it a more sedate shade; but they plan on preserving the arched windows and exposed brick interior.) Note that it doesn't sound like there are as yet commitments from any retailers for the site.
More posts: Blue Castle, 8th Street, Retail

Jaffe Hints at Cost Overrun Solution
Dec 23, 2005 10:08 AM
It's an opinion column, not a news story, so make of it what you will, but the Examiner's Harry Jaffe has a Friday column telling Nats boosters not to fear, that there will be a stadium lease agreement, mainly because there's too much money in it, for all sides. He says that the developers who have signed on to build the Ballpark District "will step in to save the day, if necessary. [..] I am banking on the developers because, over the long run, they stand to make the most money from the stadium deal. They have the most to lose if it craters. Developers already have agreed to kick in as much as $20 million for infrastructure costs. They are in negotiations to relieve the city of the most egregious part of the lease: cost overruns."

More posts: Nationals Park

Lease Agreement Reached
Dec 9, 2005 11:32 PM
WTOP is reporting: "[T]he lease for a new baseball stadium has been completed and agreed to by baseball commissioner Bud Selig. Included in the lease is a commitment from Major League Baseball to keep the Nationals in D.C. for 30 years. Also included in the lease - $20 million from baseball toward construction costs. Hall, who is a lead negotiator for the city, says the lease will also provide D.C. a 2/3 share of parking revenues at the stadium on non-game days. The other 1/3 will go to MLB. The Sports and Entertainment Commission will present the lease to the D.C. City Council Friday. A public hearing is scheduled for Dec. 16 and the council will vote on the lease Dec. 20. Seven of the the 13 members of the council must vote to approve the lease. D.C. Mayor Tony Williams has acknowledged that council approval of the lease is uncertain at this point." UPDATE: The AP has confirmed this, saying that a copy of the lease was delivered to the council around noon. UPDATE II: Here is Mayor Williams's statement on the agreement, which also includes more details on the lease. Let's remember, though, this still has to be passed by the council.... UPDATE III: The Post has a story up about the agreement--the version for Saturday's print edition fleshes out the various pieces of news of the day, without a few small additional tidbits: MLB is expected to name a new owner shortly after the lease is approved (if it is approved!); CFO Gandhi will give a cost estimate update to the council on Monday; and Mayor Williams has signed off on the final design for the stadium, and it should be unveiled also shortly after the lease is approved. Then the next rush will be on, to get zoning approval and fight any other opposition to the stadium so that shovels can go in the ground in the spring, to get construction completed by March 2008. The WashTimes's story is similar.
More posts: Nationals Park

It Keeps Going, and Going....
Dec 6, 2005 7:35 AM
Did we say $435 million? We meant $535 million. Or $589 million. Or $714 million, if you watch NBC4 ("New Cost Estimate Jeopardizes Baseball Stadium Plan") or read this morning's Post ("D.C. Baseball Stadium Cost Could Exceed $700 Million") or Washington Times ("D.C. re-evaluates ballpark figure for higher costs"). Or is it really that high? "Officials stressed that the new estimates are preliminary and take into account all potential costs, including $41 million for underground parking, $20 million to upgrade the Navy Yard Metro station and $12 million to rebuild nearby roads. They added that some of the work might not have to be paid for by the city or done at all." Mayoral spokesman Vince Morris disputes the figure: "The $700 million doomsday budget is not ours and does not reflect reality." And as for the city's concession in the lease agreement, the city has agreed to give baseball one-third of parking revenue generated by a new stadium on non-game days. In the meantime, David Catania continues to fight the stadium, by introducing two emergency measures at today's council session: One would slap a $535 million limit on spending to build the stadium, and the second would state that the stadium and related infrastructure improvements can only be paid for by city bonds. UPDATE: AP is reporting that both of Catania's measures failed (votes were 8-5 in favor, but 9 votes are needed for emergency legislation).

More posts: Nationals Park

Whispers of Lease Deal
Dec 2, 2005 10:39 PM
It's not official, but those always available "sources" tell the Post ("Tentative Deal Reached On Lease For Stadium") that "agreement has been reached on the District's two key demands, the $20 million payment and a letter of credit from baseball." There are still discussions to be had, but DCSEC chair Mark Tuohey says a deal could be wrapped up early next week, in time for the city council to schedule a Dec. 20 hearing. One thing we don't know: "In return for the payment, baseball will receive a concession from the city, government sources familiar with the negotiations said. The nature of that concession was not disclosed." What could this be, a statue of Bud Selig on the Mall? It's also nice to see that this article spells out the problems with a sudden move to the RFK site, which have been glossed over during this week's turmoil. We shall see what next week brings.... UPDATE: The WashTimes's story for Saturday ("Ballpark Lease in Ninth Inning") concentrates on how it might be difficult for the city to sell the $286 million in public bonds during the last days of December. UPDATE II: A story on MLB.com says that lawyers for both sides continue to meet today to put the final touches on the agreement.
More posts: Nationals Park

Today's Stadium Lease Update
Nov 30, 2005 8:45 AM
From Wednesday'sWashington Times, "Evans: No need for $20M for D.C.", discusses the misstatement about a $20 million payment from MLB, the status of the lease negotiations, and how the city council potentially would vote. Today also brings an AP story ("MLB Pressures DC on Ballpark") about a letter sent to Mayor Williams and Chairman Cropp from MLB expressing concern about the progress of the lease negotiations. And, a day late, here's Marc Fischer's Tuesday column in the Post, "Grinches Try to Steal Baseball."

More posts: Nationals Park

Baseball Hearings (Update With News Items)
Nov 28, 2005 9:31 AM
From today's DC city council roundtable on the new baseball stadium: The Post reports that the city will submit the stadium lease agreement to the council for approval ("District to Submit Lease Agreement for Stadium"), which, as the article notes, "sets up another tenuous December for boosters of the $535 million stadium project along the Anacostia River in Southeast. After a bitter debate, the council passed the stadium-financing package last December by a 7-6 vote."  (Maybe the stadium can be paid for by selling a Nationals-branded line of Maalox to stadium supporters.) In better news for the pro-stadium folks, negotiators say that the lease agreement is close to completion, and DC Sports and Entertainment Commission chair Mark Tuohey told the city council today that baseball will pay $20 million for additional costs ranging from land acquisition to labor, insurance and materials. It was also said that the stadium will be going in front of the zoning board in early December. UPDATE: streaming video of the roundtable is now available on the DC council web site.
More posts: Nationals Park

Lease Latest
Nov 15, 2005 12:46 PM
District officials are prepared to ask Major League Baseball for a $24 million letter of credit and a $20 million payment for parking costs when high-stakes negotiations over the terms of a new stadium lease resume today, says the Post ("DC to Seek More Money from Baseball Officials"). Read the article for the details, but it does appear that the city is trying a slightly different tack from the request last week for $6 million outright to cover "catastrophe" insurance. Will it work? We shall see....

More posts: Nationals Park




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