Review today's Washington Business Journal coverage here on the Broadcast Center One's green light by DC Council.
(by Jonanthan O'Connell, Staff Reporter -Wednesday, January 9, 2008 - 8:30 AM EST)
Wednesday, January 9, 2008
Broadcast Center One: DC Council Approves Financing/Land Deal
Shaw is finally getting its Broadcast Center One. On January 8, 2008, the DC Council gave the final reading and voted to approve the financing/land package providing for the Broadcast Center One. Following Council approval of the "Disposition and Redevelopment of Lot 854 in Square 441 Approval Act of 2007", the bill was set to be approved as emergency legislation.
Councilman Jim Graham got his way on this one. During the November 2007 Council hearing on the the bill financing package, a committee sent it back the drawing board to find a way better than the "free land giveaway" financing option, and it then appeared that the development was as good as dead. However, Mr. Graham closed the hearing commenting that if there was ever a good reason to dispose of DC land, bringing back the preeminent African-American owned radio broadcasting company to the District is it.
This development will be a catalyst for changes to this 7th and S Street, NW, area that has not seen good times since many years before the riots of 1968. Square 394 and the Shaw Neighborhood will benefit from the increased foot traffic and commercial space forthcoming upon completion of this very welcome development.
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Publication Location
[where: 20001]
[where: Washington, DC 20001]
Councilman Jim Graham got his way on this one. During the November 2007 Council hearing on the the bill financing package, a committee sent it back the drawing board to find a way better than the "free land giveaway" financing option, and it then appeared that the development was as good as dead. However, Mr. Graham closed the hearing commenting that if there was ever a good reason to dispose of DC land, bringing back the preeminent African-American owned radio broadcasting company to the District is it.
This development will be a catalyst for changes to this 7th and S Street, NW, area that has not seen good times since many years before the riots of 1968. Square 394 and the Shaw Neighborhood will benefit from the increased foot traffic and commercial space forthcoming upon completion of this very welcome development.
---------------------------------------
Publication Location
[where: 20001]
[where: Washington, DC 20001]
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