If It Doesn't Come, Will They Still
Build? "For
us it does add a lot of doubt about the future of what
that area is going to be," said Aaron Liebert, area
managing partner for developer JPI of Irving, Tex. His
company plans to spend around $250 million over the next
few years to build residential units on land it bought
near the stadium. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/16/AR2005101600944.html Wardman's World By
Sandra Fleishman You may have heard the name Harry
Wardman. Perhaps it calls to mind the 1,300-room Wardman
Park hotel at Connecticut Avenue and Calvert Street NW.
It was one of the DC developer's biggest
projects. Or maybe
you know his exclusive Hay-Adams, Jefferson and St.
Regis hotels downtown. Perhaps you've heard people brag
about their elegant solid-brick Wardman houses in
neighborhoods such as Woodley Park, Kalorama and
Georgetown. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/14/AR2005101400789.html DC Delays Vote on Tax
Increases By
V. Dion Haynes The DC Council's education committee yesterday
tabled a measure that would increase hotel, parking and
cigarette taxes to raise additional money for school
renovations after several council members complained
that the affected industries had not been given a chance
to comment. Council member Kathy Patterson (D-Ward 3), who
chairs the committee, agreed to postpone a vote on her
legislation until a public hearing has been held
allowing business leaders to give their input. Patterson
later said the hearing has been scheduled for
Tuesday. "Did I consult with folks whose taxes would be
raised? The answer is no," Patterson said at the
meeting. "What the committee faced is a huge public
need. . . . This is a package we thought we would put
forward as the least bad option." http://www.washingtonpost.com/wp-dyn/content/article/2005/10/18/AR2005101801508.html DC Council Chief To Limit Exposure
Of Stadium Plan By
David Nakamura DC Council Chairman Linda W. Cropp said yesterday
that she will use procedural rules to block significant
alterations to a baseball stadium financing package when
the council votes on three technical
amendments. The amendments, which are tax-related, are
necessary because Wall Street bond raters have said they
will not grant the District investment-grade ratings on
stadium construction bonds until the changes are made,
city financial officials said last week. Cropp (D),
who was a leading critic of the public investment last
fall, said the city must honor its agreement unless
costs rise too high at the proposed waterfront location.
Her strategy on the amendments is intended to limit the
council's ability to derail the stadium. Council members
are not permitted to make substantial changes to
technical amendments, which are used to correct
relatively minor mistakes in wording. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/17/AR2005101701705.html New Plan To Renew Schools: Boost
Taxes By
V. Dion Haynes The chairman of the DC Council's education
committee yesterday proposed raising an additional $1
billion for school modernization over the next 10 years
by increasing hotel, parking and cigarette taxes and
delaying planned reductions in income taxes. The bill by Kathy Patterson (D-Ward 3), scheduled
for a committee vote today, would provide the school
system with twice as much capital funding as projected
for that period. "It's a
tough business to look at raising taxes. If ever we're
going to raise taxes, this purpose is most legitimate,"
Patterson said yesterday, adding that she has been
"anti-tax all my time on the council." http://www.washingtonpost.com/wp-dyn/content/article/2005/10/18/AR2005101800007.html Patterson Opens Bid for DC Council
Chairman By
Eric M. Weiss DC Council member Kathy Patterson announced
yesterday that she will run for council chairman, the
city's second-highest elected office. Patterson, whose Ward 3 district includes much of
upper Northwest, said she will run on the legislative
track record she has accumulated over her three terms on
the council. "I am the
best person for the job," Patterson said. "My leadership
for the last 11 1/2 years is what I will be talking
about with residents." http://www.washingtonpost.com/wp-dyn/content/article/2005/10/14/AR2005101402063.html GlobeSt.com EXCLUSIVE:
Perseus Establishes $250M Shopping Center
Fund (For more
retail coverage, click GlobeSt.com/RETAIL.) WASHINGTON, DC-Shopping centers are the focus
of Perseus Retail Partners' newly established
$250-million fund. The Perseus Realty Partners affiliate
has just launched the funding program, which targets
developers and owners of non-mall retail properties
across the country for development and repositioning.
Assets for consideration include grocery- and drug
store-anchored centers, power centers, lifestyle centers
and urban retail. "One of the most
striking features of the program, and what distinguishes
it from others, is that it is designed to solely invest
in non-mall retail assets," says Perseus Realty Partners
director Thomas J. Hofheimer. "We are able to provide
equity or mezzanine debt and price our capital on a
truly risk-adjusted basis." The fund further sets itself
apart from others with its willingness to invest in
business plans up to 10 years. There are no national
geographical constraints for the new fund, which aims to
provide joint venture equity and mezzanine
debt--everything above first mortgages--in both
metropolitan area suburban and urban markets with
populations of at least one million and high barriers to
entry. The firm has pinpointed a couple of desirable
asset attributes as particularly good investments.
http://www.globest.com/news/395_395/washington/139330-1.html JV Makes $55M Land Purchase
for $300M Project (To read more
on the multifamily
market, click
here.)
WASHINGTON, DC-Ronald Cohen, CEO of
Rockville, MD's Cohen Cos. joined forces with New
York-based partner O'Connor Capital Partners to acquire
a parcel in Southeast for $55 million. Cohen plans to
develop mixed-use project on the site that will cost an
estimated $300 million. The transaction was a
closed deal; the property was never openly marketed. The
partners bought the full city block from long-time
owners film producers Jim and Ted Penas and Bill Durkin.
Cohen is just one of a
number of developers who have been buying up property
surrounding the planned Washington Nationals baseball
park site since plans were announced for the new stadium
last year. Plans for the mixed-use project include 650
condominiums, a hotel with condominium units, a
250,000-sf office building, retail space and parking.
The site can accommodate up to 840,000 sf of
development. Cohen has targeted October 2006 for a
ground breaking. http://www.globest.com/news/393_393/washington/139272-1.html Duncan Announces Gubernatorial Bid
By
John Wagner and Matthew Mosk Even before Montgomery County Executive Douglas
M. Duncan formally announced his Democratic bid for
Maryland governor at his boyhood home in Rockville
today, there were party loyalists such as C. Richard
D'Amato who have already decided they're going with the
other guy. D'Amato, a former delegate from Annapolis, is one
of several Democratic insiders interviewed this week who
said that they like and respect Duncan -- and even think
he would make a fine governor -- but that they just
don't think he would match up as well against Gov.
Robert L. Ehrlich Jr. (R) in the general election as
would Baltimore Mayor Martin O'Malley. "I'm going
with Martin O'Malley for one main reason," D'Amato said.
"Because I think he's our best hope in beating
Ehrlich." http://www.washingtonpost.com/wp-dyn/content/article/2005/10/20/AR2005102000868.html Ex-Mayors Of Baltimore Back
Duncan By
Tim Craig When Montgomery County Executive Douglas M.
Duncan travels to Baltimore today to announce that he's
running for governor, two of the city's former mayors
will be standing beside him. State Comptroller William Donald Schaefer (D) and
Kurt L. Schmoke (D), who have had tense relations over
the years, will join together to endorse Duncan, who is
running against Baltimore's current mayor, Martin
O'Malley, in the Democratic primary next
year. "This is a
complete, total pro-Doug Duncan stance," said Schmoke,
the dean of Howard University's law school who was mayor
from 1987 to 1999. "I think he is not only a fine
person, but he will make an outstanding governor and is
a great public servant." http://www.washingtonpost.com/wp-dyn/content/article/2005/10/19/AR2005101902179.html Will Takoma Park Lose Its Charm to
Growth? By
Phuong Ly Local myth has it that opening a chain store is
against the law in Takoma Park. Development skipped over
the downtown of this quirky enclave for so long that
many residents had accepted the myth as fact. Now, more restaurants and shops are planned not
only for the downtown but also for the adjoining
commercial area of the Takoma neighborhood in the
District. The construction boom in the historically
connected communities is sparking a debate over growth
and its impact on the area's character. Nearly 540
condo units and townhouses and thousands of square feet
of retail space -- including a chain grocery store --
are on the drawing board within a two-mile radius of the
Takoma Metro station. In the past year, two retail and
residential developments with a total of 100 apartments
and condos have opened. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/19/AR2005101901321.html Montgomery Puts Limits on Housing
Heights By
Miranda S. Spivack The Montgomery County Council brushed aside a
vigorous lobbying campaign by builders and voted 8 to 1
yesterday to place new limits on the height of
single-family houses in the county's older
neighborhoods. The measure, which covers building permits issued
after Oct. 11, changes the way height is measured and
eliminates a loophole that has allowed some builders to
construct homes exceeding the current limit of 35 feet,
as measured from the middle of the street. The only
dissenting vote was from council member Steven A.
Silverman (D-At Large), who chairs a council committee
that spent two years considering the bill before
approving a version last week. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/18/AR2005101801623.html Candidates For Top Post Discuss
Taxes And Housing By
Tim Craig The two Democratic candidates for county
executive met Monday in the first of several debates
planned before next year's primary election. Although
the event was more like a candidates forum than a
traditional debate, council member Steven A. Silverman
(At Large) and former council member Isiah Leggett spent
more than an hour fielding questions from Democratic
activists at the Golden Bull Grand Cafe in
Gaithersburg. The gathering exposed early differences between
Silverman and Leggett on issues that are expected to be
central themes in the race. On the
topic of growth and development, it's increasingly clear
that Leggett wants to be known as the candidate who
supports limiting growth. "In order to go forward, we
have to grow," Leggett said. "It's not a question of
growth or no growth, it's a question of growth and slow
growth. Believe me, I will slow growth." http://www.washingtonpost.com/wp-dyn/content/article/2005/10/19/AR2005101901370.html Proposal on Affordable Housing Under
Fire By
Annys Shin A
coalition of nonprofit and faith-based housing
developers are fighting a proposal they say would
prevent them from receiving millions of dollars from an
affordable-housing fund to be financed by Fannie Mae and
Freddie Mac. The skirmish is part of a larger battle over a
House bill intended to strengthen regulation of the two
housing-finance companies following their
multibillion-dollar accounting scandals. The bill,
sponsored by House Financial Services Committee Chairman
Michael G. Oxley (R-Ohio) and Rep. Richard H. Baker
(R-La.), has been stalled since May because of the
proposed affordable-housing fund. The stalemate appeared
to have been broken two weeks ago, when the bill's
sponsors agreed to add a provision that would ban funds
from going to groups that in the past year had engaged
in voter-registration or get-out-the-vote efforts or
that affiliated with groups that did. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/19/AR2005101902231.html Orders Down in Region, Home Builder
Says By
Elissa Silverman and Sandra
Fleishman Home builder NVR Inc. reported yesterday that new
orders in the Washington area fell almost 19 percent in
the third quarter from a year earlier, adding to
evidence that the region's booming housing market may be
cooling off. In reporting earnings for the three months ended
Sept. 30, the Reston company that is the area's biggest
home builder said new orders increased "in each region,
except Washington, DC, which was negatively impacted by
generally weaker market conditions." NVR's stock
fell 10.3 percent after the company's results fell short
of Wall Street expectations, though revenue for the
quarter was up 18 percent and profit was up 28 percent.
Shares closed at $680, down $77.75. Stock of other home
builders also fell after the announcement. NVR spokesman
Dan Malzahn could not be reached for comment. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/18/AR2005101801609.html Republicans Want Limit On Eminent
Domain Use By
Matthew Mosk Maryland's Republican lawmakers announced
yesterday that they will propose amending the state
constitution to better protect property owners from
efforts by the government to seize their
land. The proposal comes in response to a U.S. Supreme
Court decision in June that permits local governments to
force property owners to sell and make way for private
economic development, even if the property is not
blighted and the new project's success is not
guaranteed. Senate Minority Leader J. Lowell Stoltzfus
(R-Somerset) said the ruling attacks "the bedrock
principle . . . that the government should not have the
right to confiscate your property" and that it puts the
burden on state legislatures to expressly define the
conditions under which local officials could exercise
the power of eminent domain. The opinion has all but ensured that state
legislatures across the country will delve into the
thorny issue, which has had implications in Maryland for
everything from the redevelopment of Silver Spring to
the revitalization of downtown Baltimore. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/18/AR2005101801224.html Md. Democrats Renew Talk of Moving
Up Primary Date By
Matthew Mosk Democrats have revived talk of pushing up the
date for Maryland's 2006 primary elections, saying they
need to prevent a withering intraparty battle from
draining the eventual nominee of resources needed to
face Republican Gov. Robert L. Ehrlich Jr. House Speaker Michael E. Busch (Anne Arundel) and
Senate President Thomas V. Mike Miller Jr. (Calvert) say
they are working on an expansive Voter's Bill of Rights,
to be introduced when the General Assembly convenes in
January, that could include a provision to move the
primary from September to June. Many
Democrats believe that would help Baltimore Mayor Martin
O'Malley and Montgomery County Executive Douglas M.
Duncan, who are competing for the Democratic nomination,
as well as the candidates who have joined what could be
a crowded and bruising U.S. Senate primary. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/18/AR2005101801732.html O'Malley to Get Early Union
Endorsement By
John Wagner Baltimore Mayor Martin O'Malley will pick up an
early labor union endorsement Monday in Maryland's 2006
Democratic primary for governor. The Service Employees International Union Local
1199 is set to announce its support for O'Malley, whom
the group backed in 1999 when he ran for mayor. The
union includes about 7,500 hospital and health care
workers from Maryland, primarily in Baltimore City and
Baltimore and Prince George's counties. Board Gets Outline of Woodbridge
Redevelopment Plan By
Lila de Tantillo The latest residential development issue in
Prince William County doesn't concern building houses on
agricultural land but instead is focused on north
Woodbridge, and a key 164 acres that would be the
gateway into the redeveloped area and into the
county. On Tuesday, Potomac Communities Revitalization
Plan planner Pat Thomas, along with consultants who
worked on the project, presented to the Board of County
Supervisors an outline for redevelopment to lure new
residents to work, walk, shop and dine in the
neighborhood, which is bounded roughly by Route 1,
Interstate 95, the Occoquan River and Occoquan Road, and
bisected by Route 123. Several supervisors expressed concerns that the
redevelopment plan would lure residential development
but not necessarily the other proposed components,
further clogging already congested roads with additional
commuters without a nearby employment center. http://www.washingtonpost.com/wp-dyn/content/article/2005/10/19/AR2005101900097.html From Lost Trees, Foes of Growth Take
Root By
Lisa Rein The trees were the last straw. Becky Cate spotted the destruction one day last
December: Amid the sprawl of her neighborhood just south
of Tysons Corner, a Caterpillar had barreled through a
grove of towering poplars and oaks, wiping out what she
and her neighbors considered their last remaining
treasure. Giant trees that a developer had promised to
save on an old family goat farm were now being bulldozed
for 14 more houses. "We started
making calls to the county and said, 'This is not
right,' " recalled Cate, a civic activist and former
candidate for county supervisor who helped lead a fight
for fewer houses on the property. "We want the natural
canopy back. . . . It's a high-profile case, and people
are watching it." http://www.washingtonpost.com/wp-dyn/content/article/2005/10/13/AR2005101302164.html Crown Ridge Trades for
$58M (To read more
on the TIC
market, click
here.)
FAIRFAX, VA-A Galaxy Investments affiliate
operating under the names of Connecticut Avenue
Associates TIC LLC and Sullyfield Circle TIC LLC has
acquired Crown Ridge@Fair Oaks for $58.3 million. KBS
Realty Advisors sold the 191,200-sf office facility,
located at 4035 Ridge Top Rd. The class A property
last changed hands in 2003 for $35.9 million. Fairfax
County records list the current assessed value of the
16-year-old building and the nearly seven-acre parcel it
occupies at $38.1 million. Donald McCully and Gerry
Trainor of Transwestern Commercial Services'
Mid-Atlantic Investment Services Group represented KBS,
while T. Michael Scott of Herndon-based Cambridge
Property Group represented the buyer. Crown Ridge sits off
Route 50. The property also features a two-level
underground parking facility. Online game developer
Mythic Entertainment and global business consulting and
IT technology services firm Headstrong Corp., among
others, make their home in the building, which has
tenant commitments for nearly 91% of the space through
2010. And while all space in the eight-story structure
is nearly accounted for, the property had been marketed
through McShea & Co. for $26 per sf.
http://www.globest.com/news/394_394/washington/139284-1.html TA Associates Acquires
Westwood Tower for $54M VIENNA, VA-TA Associates has acquired
Westwood Tower in a $53.6-million transaction. Access
Properties sold the 250,000-sf office property five
years after having acquired it as an affiliate of Rim
Pacific Management for about $40 million.
The asset, which
occupies a 4.5-acre parcel, has a current assessed value
of $38.3 million. Jim Luck, Warren Dahlstrom and Chip
Ryan of Cushman & Wakefield's Capital Markets Group
orchestrated the transaction. Located at 8614
Westwood Center Dr., Westwood Tower sits off the Dulles
Airport Access Road and Interstate 495. The class B
building had an 89% occupancy level at the time of the
transaction. Tenants include the Reinforced Earth Co.,
Acumen Solutions Inc. and ATX Communications. In 2003
the ownership secured a five-year, $32-million loan on
the property. http://www.globest.com/news/394_394/washington/139300-1.html
By
Dana Hedgpeth
Washington
Post Staff Writer
Monday, October 17, 2005; Page
D03
Developer's Rowhouses
Defined the District in the Early 20th Century and Are
Still Prized Today
Washington
Post Staff Writer
Saturday, October 15, 2005; Page
F01
Public Hearing Set on
Measure That Would Fund School Repairs
Washington
Post Staff Writer
Wednesday, October 19, 2005; Page
B05
No Major
Changes Allowed, Cropp Says
Washington
Post Staff Writer
Tuesday, October 18, 2005; Page
B04
Hotel, Cigarette Levies
Would Double Funds
Washington
Post Staff Writer
Tuesday, October 18, 2005; Page
B01
She Joins Evans in Vying
for City's No. 2 Elected Post
Washington
Post Staff Writer
Saturday, October 15, 2005; Page
B07
Washington
Post Staff Writers
Thursday, October 20, 2005; 11:15
AM
Washington
Post Staff Writer
Thursday, October 20, 2005; Page
B05
Some See Progress; Others
Fear Change
Washington
Post Staff Writer
Thursday, October 20, 2005; Page
T03
Washington
Post Staff Writer
Wednesday, October 19, 2005; Page
B04
Washington
Post Staff Writer
Thursday, October 20, 2005; Page
GZ03
Washington
Post Staff Writer
Thursday, October 20, 2005; Page
D04
19% Drop Contrasts With
Increases in Other Markets
Washington
Post Staff Writers
Wednesday, October 19, 2005; Page
D01
Washington
Post Staff Writer
Wednesday, October 19, 2005; Page
B05
Washington
Post Staff Writer
Wednesday, October 19, 2005; Page
B05
Washington
Post Staff Writer
Saturday, October 15, 2005; Page
B10
Washington
Post Staff Writer
Thursday, October 20, 2005; Page
PW01
Homeowners Across
Fairfax County Fight Efforts to Fill the Little Land
That's Left
Washington
Post Staff Writer
Friday, October 14, 2005; Page
A01
