WASHINGTON, DC NEWS

Bobb, Laying Out Bold Plan, Says He Will Fight a Mayoral Takeover

By V. Dion Haynes
Washington Post Staff Writer
Thursday, November 9, 2006; Page A49

One day after his election as president of the DC Board of Education, former city administrator Robert C. Bobb yesterday outlined an aggressive plan for boosting student achievement and indicated he will strongly oppose a possible effort by Mayor-elect Adrian M. Fenty to seize control of the schools.

Like Fenty, Bobb said a "sense of urgency" is needed among school leaders to address such intractable problems as low student achievement, declining enrollment and deteriorating buildings. When asked whether he would agree to make the school board an all-appointed advisory panel, as Fenty is considering, Bobb said: "No, absolutely not."

"I didn't spend all this time, effort and energy running for president of the school board to head the school system here in the District of Columbia as an advisory board member," he added.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/08/AR2006110802311.html

Fenty, Gray Move Quickly to Make an Impact

By David Nakamura and Nikita Stewart
Washington Post Staff Writers
Thursday, November 9, 2006; Page A49

DC Mayor-elect Adrian M. Fenty said yesterday that he will use his seven-week transition to host town hall meetings in every ward, conduct a sweeping performance review of city government agencies and put his imprint on the city's fiscal 2008 budget.

A day after he easily won election, Fenty (D) announced at a news conference that the transition will be led by his designated city administrator, Dan Tangherlini, and his designated chief of staff, Tene Dolphin, who also held that job in the campaign. Fenty said the goal is to convert ideas collected since he won the September primary into plans that he can implement after he is sworn in Jan. 2.

Fenty said he chose to forgo naming an honorary chairman to oversee the transition -- unlike Mayor Anthony A. Williams (D), who tapped former senator Robert J. Dole (R-Kan.) in 1998.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/08/AR2006110802315.html

Grosvenor Ramps Up Mixed Use Development

WASHINGTON, DC-International property and fund manager company Grosvenor began eyeing the urban and inner suburban mixed-use retail asset class a few years ago. At that time it identified Los Angeles, San Francisco, Chicago and Washington, DC as key markets in which to develop and/or invest. New hires in the local office are attempting to kick that strategy into high gear here.

D.J. Sworobuk was appointed senior asset manager to oversee the expansion of the firm's DC retail and mixed-use portfolio. Dale Nelson, senior development director, joined in July and Mark Darley, senior vice president of development, transferred from the firm's San Francisco office to head operations here.

Specifically, Grosvenor is looking for opportunities in development and investment of class A mixed-use retail and residential, with an emphasis on multifamily as opposed to condo development, Sworobuk tells GlobeSt.com. Right now the firm has one project in the pipeline which Sworobuk will not discuss other than to say it is a local project of a substantial amount that will be announced no later than Q1, possibly sooner.

http://www.globest.com/news/774_774/washington/150328-1.html

Columbia Equity Goes Private in $502M Deal 

WASHINGTON, DC-A subsidiary of JPMorgan Asset Management's Special Situation Property Fund (SSPF) is buying out all of Columbia Equity Trust Inc.'s outstanding shares as it takes the Washington REIT private in an all cash transaction. According to an announcement the two firms made this morning, SSPF will pay $19 per share. The acquisition is valued at approximately $502 million, including the assumption of Columbia's debt of approximately $213 million.

Columbia principals Oliver Carr, chairman, president and CEO, and John Schissel, executive vice president and CFO, will reinvest 25% or more of their current equity in the company into the new entity when the transaction is complete. The two will also enter into new employment agreements with the JPMorgan Asset Management subsidiary that will replace their current agreements. The deal is expected to close during the first quarter 2007. Columbia's stockholders still need to approve the transaction.

http://www.globest.com/news/776_776/washington/150423-1.html

Madison Marquette Looks to Increase Investment

WASHINGTON, DC-Madison Marquette is preparing to enhance its footprint in the DC area as well as key markets on both coasts next year, according to CFO Paul Andrews. "Because we have built up our operating company over last couple of years we now have the ability to do more projects on an ongoing basis," he tells GlobeSt.com. "Instead of one or two projects we now anticipate up sourcing ten new projects a year." He declined to say by how much Madison Marquette would increase its investment allocation or the source of its new funds.

Madison Marquette has sourced one deal in the DC area this year; an expansion of the Festival, a 500,000-sf retail center in Waldorf, MD. Earlier this year it acquired an 8.2-acre parcel from the developers of an office complex next to the center called Waldorf Tech Park. Plans call for the development of a 40,000-sf lifestyle retail center that will include boutique retailers, walkways for pedestrians and other amenities. Construction is expected to begin in Summer 2007 with a target completion date in Spring 2008.

http://www.globest.com/news/777_777/washington/150463-1.html

REGIONAL NEWS

For Sale, By the Owner's Ego
Feelings Often Play as Big A Role as Logic in Setting Prices, Research Finds

By Kirstin Downey
Washington Post Staff Writer
Saturday, November 4, 2006; Page F01

Sam LeBlanc tried to cushion the blow when he gave his wife, Karyn, the bad news. He told her to take a breath and think it over, because he knew that what he was telling her would hurt.

Her condominium isn't worth nearly as much as she thought.

"I was a little crushed," Karyn recalled.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/03/AR2006110300666.html

Mission: Affordable
Moderate-Income Buyers Get Condos With Government Help

By Aliya Sternstein
Express
Wednesday, November 8, 2006; 1:36 PM

In the summer of 2005, Arlington County handed Arlington deputy sheriff Jun Emmanuel Gan what amounted to a golden ticket redeemable for a discounted $220,000 two-bedroom condo, which had a market value of $232,000.

Gan, 29, had been randomly chosen by lottery for a condo unit through the county's employer-assisted housing (EAH) program, which connects condo developers with employees from the Arlington County Government, Arlington Public Schools, nonprofit developer AHC, George Mason University, Marymount University and Virginia Hospital Center.

Through the program, residents such as Gan, who make more than the standard affordable housing income limit, can buy homes at below-market prices. All of these condominiums are located in Arlington.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/08/AR2006110801363.html

U.S. Home Builders Say Housing Slowdown Continues

By James B. Kelleher
Reuters
Tuesday, November 7, 2006; 7:54 PM

CHICAGO (Reuters) - Three leading U.S. home builders warned on Tuesday that the slowdown in the country's once-soaring real estate market continued in the latest quarter as deteriorating consumer confidence and falling prices cast a growing pall over the sector.

Luxury homebuilder Toll Brothers Inc. said it expects to report a 10 percent drop in quarterly home-building revenue, and warned of continuing softness in formerly booming markets such as Northern California and parts of Florida.

The company also said it expects to take fourth-quarter write-downs of $50 million to $100 million on both the land it owns and has options to buy, up from a prior forecast of $4 million. The charges will reduce net earnings by 18 cents to 36 cents per share.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/07/AR2006110700277.html

Fair Housing Act Could Provide Relief for Disabled Condo Owner

By Benny L. Kass
Saturday, November 4, 2006; Page F14

Q: I recently purchased a condominium unit in a complex that has a large number of assigned parking spaces. I advised the board of directors that I am handicapped and requested that they assign me a parking space near the entrance of my unit.

However, the board advised me that there are no available spaces, and -- with a show of regret -- rejected my request.

I cannot walk a long distance, and it is impossible to get from my assigned space to my unit without assistance. I am also concerned that with inclement weather approaching, the walkway may be slippery and I may be injured. Is there anything I can do?

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/02/AR2006110201948.html

Tired of Waiting on States, Counties Fund Roads on Their Own

By Eric M. Weiss
Washington Post Staff Writer
Tuesday, November 7, 2006; Page B01

Local governments in the Washington region have given up on getting additional state money for major transportation projects and are instead going into debt to embark on an unprecedented half-billion-dollar road-building boom to try to ease some of the area's worst jams.

In most cases, the money will go to build or expand roads that are the responsibility of the state governments in Richmond and Annapolis, which have failed to fund projects promised for years.

"We're tired of waiting around," said Steven A. Silverman (D-At Large), a member of the Montgomery County Council. "Our people are crying for relief, and we want to provide it."

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/06/AR2006110601182.html

O'Malley Reaches Out to Assembly and Washington Suburbs

By John Wagner
Washington Post Staff Writer
Thursday, November 9, 2006; Page A48

Baltimore Mayor Martin O'Malley pledged yesterday to mend the rift between the General Assembly and the governor's office and to represent the entire state, including the Washington suburbs instrumental to his victory.

But even as O'Malley's victory in the governor's race brings Annapolis back to one-party rule, fellow Democrats say he could meet resistance unless he broadens his administration beyond his loyalists and fleshes out his policy planks.

"We have a lot of important work to do in bringing people together in the spirit in which it is required for these next four challenging years, " O'Malley said at an afternoon news conference.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/08/AR2006110802217.html

Governor and U.S. Senate Losses Just the Tip of State GOP Collapse

By Matthew Mosk and Ann E. Marimow
Washington Post Staff Writers
Thursday, November 9, 2006; Page A01

Maryland Gov. Robert L. Ehrlich Jr. and Republican Senate candidate Michael S. Steele conceded defeat in quick succession yesterday, putting an end, at least for now, to the state's four-year experiment with two-party government.

As election returns began to solidify yesterday, the scope of the Republican Party's destruction in Maryland emerged.

Not only did the GOP lose its coveted hold on the governor's office to Baltimore Mayor Martin O'Malley and cede the open U.S. Senate seat to Rep. Benjamin L. Cardin, but the party also lost significant ground in the legislature and dropped key seats in the swing jurisdictions of Charles and Howard counties.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/08/AR2006110801368.html

Prince George's Democrats set to sweep election

Wednesday, Nov. 8, 2006

Prince George's County Democrats appear to have swept every local race in the general election, based on returns early Wednesday reflecting 80 percent of the precincts reporting.

In County Council District 3, College Park City Councilman Eric Olson (D) was leading New Carrollton City Councilman James Wildoner (R) by 66 points. Incumbent Councilman David Harrington (D-Dist. 5) was also leading Republican challenger Francis Marshall by 86 points.

The other seven Council candidates did not face any Republican opponents.

http://www.gazette.net/stories/110806/princou21250_31953.shtml

Widened I-66 Near Manassas To Open
New Lanes to Ease Miles-Long Backups

By Eric M. Weiss
Washington Post Staff Writer
Wednesday, November 8, 2006; Page B01

The orange barrels will be taken away this morning and four new lanes of pristine blacktop will open to traffic on Interstate 66 near Manassas, saving drivers significant time in traffic.

The I-66 widening is the latest improvement in a year filled with transportation fixes. The first of two spans of a new Woodrow Wilson Bridge opened during the summer. Two major ramps that are part of the Springfield interchange project opened this year, bringing that eight-year effort nearly to a close. And in Maryland, officials broke ground on preliminary work on the intercounty connector, an 18-mile highway that is planned to connect the northern suburbs of Montgomery and Prince George's counties.

The new lanes on I-66 are the first half of a widening between Manassas and Gainesville designed to unclog one of the region's worst bottlenecks, which backs up traffic several miles each day. I-66 in both directions goes quickly from four to two lanes, leaving commuters stuck in long weekday backups and delaying vacationers on weekends.

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/07/AR2006110701401.html

To Preserve Local Land, Town Fights School Plan
Facility Is Key to Handling Growth, County Says

By Michael Alison Chandler
Washington Post Staff Writer
Sunday, October 22, 2006; Page C06

The small western Loudoun County town of Purcellville is taking on the county and one of its biggest developers -- the school system -- with the hope of managing growth in the once-rural area.

But the 50,000-student school system is a formidable opponent, given its mission of building more than 20 schools in the next six years to educate a population expected to grow by 40 percent in the same period of time.

Officials in the town of 6,500 are seeking to block construction of a proposed high school on county-owned land just north of the town. They argue that construction requires town approval, which is the same argument that was used to challenge an elementary school outside of Hamilton that was scheduled to open next year.

http://www.washingtonpost.com/wp-dyn/content/article/2006/10/21/AR2006102100888.html

Dulles Office Property Nearing 100% Occupancy

DULLES,VA-A 109,065-sf office building on the Route 28 north corridor is nearing 100% occupancy as a transport company picks up 25,000 sf and two other pending leases move to completion.

Referred to as Dulles West, the building is located on 44965 Aviation Dr. Transwestern, representing the building's owner Velsor Properties, just negotiated a 25,003-sf lease with Gemini Air Cargo. Matt Bundy, Allen McBride and Josh Masi, in Tysons' Corner, represented Velsor. Cushman & Wakefield brokers Jude Collins and Kirk Boyd, also in Tysons' Corner, represented Gemini.

Bundy tells GlobeSt.com if two additional pending leases close, the building will be 100% occupied. He cites the growing activity and construction at Dulles International Airport as a key factor. "One reason we are going to be 100% occupied--which a lot of buildings on this block can't say--is because of Dulles. We are on its power grid and are located very close by." The building's tenants are comprised of transport companies such as Gemini, engineers that need to be close to the work and government agencies, he says.

http://www.globest.com/news/778_778/washington/150503-1.html

Crystal City Office Tower Trades for $102M

CRYSTAL CITY, VA-Transwestern Investment Co. LLC acquired Presidential Tower, a class A office building, for $102 million, according to industry experts. The investment was made on behalf of Aslan Realty Partners III LLC. The property located in Arlington, VA totals 333,000 sf. According to area sources the 12-story building had been under contract to trade with a limited partnership called LHL Realty Co. The Virginia office of Transwestern Commercial Services will manage the asset, located at 2511 Jefferson Davis Highway.

If the building closed on or around this price, it would be on par with other recent transactions. In June the Consumer Electronics Association acquired 1919 S Eads St., a 98,750-sf class A property from Charles E Smith for $388.86 per sf. In May 601 S. 12 St. was sold to Brookfield Properties from National Retail Properties Inc. for $425.93 per sf. It is a 540,000 sf, class B asset.

http://www.globest.com/news/775_775/washington/150360-1.html