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From the Post's DC Wire blog: "City officials are close to finalizing a deal to build a new convention center hotel without having to secure an additional hundreds of millions of dollars in public financing, officials said today. Under the framework of the agreement, the city and the convention center authority will put up an additional $80 million. The city earlier had pledged $187 million for the project, which has languished due to tight credit markets. The rest of the money for the $537 million project will come from private sources. Frustrated that the hotel project had yet to break ground, convention center and D.C. Council members began exploring earlier this month whether the city could secure full public financing for the project. They argued the city was losing convention business to neighboring jurisdictions. But Chief Financial Officer Natwar M. Gandhi, who was worried about the District breaching its debt limit, helped broker a deal in which Capstone Development will team with ING to secure private financing, sources said. The project is slated to be a 1,167 Marriott Marquis, which would be one of the city's largest hotels."
More here. Now to wait and see where that extra $80 million will come from...
UPDATE: WBJ reports on the near deal, which includes this: "The developers and key members of the D.C. Council began considering alternatives and Thursday said they had found one. In it, the Washington Convention Center Authority would contribute an $80 million loan -- a far smaller price tag than the mayor proposed -- and the developers would raise their equity participation from $135 million to $320 million with the backing of ING Clarion Real Estate Investment, the U.S. subsidiary of ING Real Estate and one of the city's largest property owners."
UPDATE II: The Examiner's story, with this morsel: "Evans, chairman of the Finance and Revenue Committee, said he hoped to forestall the 'hysteria' of people thinking their projects were being eliminated. No projects will be dropped, he said. 'We're heading in the completely opposite direction,' he said."
UPDATE III: And the Post's for-print-publication version of their article, with a slightly less snarky Evans quote: "In recent days, some community and political leaders became concerned when the Washington Business Journal published a story suggesting that some development projects would have to be scrapped so the hotel could be built without exceeding the city's debt limit. Evans said the prospect of full public financing appears to have motivated the developers into putting up the equity so they could gain more of the profits. 'It caused everyone to focus, step up and get it done,' said Evans, who added that he hopes the council will vote on the proposal next month so construction can begin in the fall."
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Mark_M says: (6/18/09 9:51 PM)
Does this now mean that the convention center hotel will now NOT be "taking" money from the Near SE projects as earlier thought?


Joe in DC says: (6/19/09 9:13 AM)
Mark that seems to be the case. Ahhhhh... now that is what I call a creative solution to a pesky financial problem. Lets be frank here, there was no "hysteria" as our esteemed council member Evans has been publicly quoted. Its called citizen action. Shocker!!! Who knew?

Had not the citizens of this city with a vested interest in the Near S.E/Navy Yard & the S.W. Waterfront put the council on notice that we were not going to quietly stand by while our interests were trampled on, the outcome may have been very different. The stakes are too high and the possibility that a dreadful outcome could have occurred is too real. Hysteria-schmeria! It is our right and our duty to stand up and have our voices heard. It is interesting how quickly the council and developers were able to come up with the necessary financing for the hotel once they got caught with their hands in the cookie jar. They wanted an easy and expeditious solution to building the new hotel and were willing to do it at our expense.

Folks, we may have other tricky issues ahead of us (hopefully not), but we must be willing to fight for the type of community we have been sold. The Near S.E/Navy Yard and neighboring S.W Waterfront is poised to be the envy of the city and I for one will do my part to ensure that it is. Thank you to all of you who got involved on this issue and most of all, thank you JD for your tireless efforts on behalf of the Near S.E.

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Recent Crime Incidents Archive  
200 B/O VIRGINIA AVE SE   MOTOR VEHICLE THEFT /  07/10/14
900 B/O HALF ST SE   THEFT F/AUTO /  07/10/14
100 B/O M ST SE   THEFT /  07/09/14
4TH ST SE AND L ST SE   ROBBERY /  07/08/14
800 B/O POTOMAC AVE SE   THEFT /  07/07/14
300 B/O K ST SE   THEFT F/AUTO /  07/07/14
1100 B/O NEW JERSEY AVE SE   THEFT /  07/05/14
100 B/O L ST SE   THEFT F/AUTO /  07/04/14
1100 B/O 2ND PLACE SE   THEFT F/AUTO /  07/03/14
2ND PLACE SE AND I ST SE   THEFT F/AUTO /  07/02/14
70 B/O I ST SE   ROBBERY / GUN  07/02/14
200 B/O I ST SE   THEFT F/AUTO /  07/02/14
400 B/O M ST SE   MOTOR VEHICLE THEFT /  06/30/14
UNIT B/O M ST SE   THEFT F/AUTO /  06/30/14

Active Public Space Permits Archive  
1011 1ST ST SE    Pepco Holdings Inc 
Issued
excavation; new  
 06/26/14
to
08/26/14
1331 2ND ST SE    Carlton Ray 
Assigned
paving; streetfixture; excavation  
 02/10/14
to
02/09/15
804 3RD ST SE    Maximiliano Villagra 
Issued
streetfixture; new  
 08/05/14
to
08/06/14
904 3RD ST SE    Janel Fitzhugh 
Issued
streetfixture; new  
 07/01/14
to
08/14/14
908 3RD ST SE    Rachel Frankel 
Issued
streetfixture; new  
 07/24/14
to
09/21/14
1026 3RD ST SE    Wash Gas & Light Co. 
Issued
excavation; new  
 06/26/14
to
09/04/14
1331 4TH ST SE    Forest City Forest City 
Issued
excavation; new  
 01/10/14
to
02/10/15
913 5TH ST SE    Wash Gas & Light Co. 
Issued
excavation; new  
 06/26/14
to
08/28/14
1100 - 1199 BLOCK 1ST ST SE    tom cash 
Issued
excavation; new  
 06/27/14
to
08/25/14
410 M ST SE    Pepco Holdings Inc 
Issued
excavation; new  
 07/11/14
to
09/08/14
800 NEW JERSEY AVE SE    Pepco Holdings Inc 
Issued
excavation; new  
 06/20/14
to
08/22/14
880 NEW JERSEY AVE SE    WASHINGTON GAS 
Issued
excavation; new  
 06/17/14
to
08/17/14
    WASHINGTON GAS 
Issued
excavation; new  
 07/28/14
to
09/26/14
1105 NEW JERSEY AVE SE    Wash Gas & Light Co. 
Issued
excavation; new  
 06/13/14
to
08/11/14
301 TINGEY ST SE    Potbelly Sandwich Works LLC 
Issued
new  
 03/21/12
to
11/27/14

Recent Issued Building Permits Archive  
1025 1ST ST SE   
07/26/14 
NA NA NA
EHOP1490737 / HOME OCCUPATION
1100 1ST ST SE   
07/15/14 
NA NA NA
EHOP1490710 / HOME OCCUPATION
1265 1ST ST SE   
07/29/14 
CAPITAL RIVERFRONT HOTEL LLC / JOHN HOMICK
E1407634 / SUPPLEMENTAL
921 4TH ST SE   
07/29/14 
RICHARD AND MARGIT TRACEY / RICHARD AND MAR TRACEY
F1400538 / CONSTRUCTION
CUSTOM FABRICATED ORNAMENTAL IRON FENCE WITH GATE TO BE PAINTED BLACK INSTALLED PRIMED.
1212 4TH ST SE   
07/11/14 
FC 1212 LLC /
P1406926 / SUPPLEMENTAL
   
07/14/14 
MIKE LENARD / BHAR; W. SAKIE BHAR
SG1400363 / CONSTRUCTION
INSTALL ONE SET OF BUILDING SIGN ON TO EXISTING BUILDING
1103 9TH ST SE   
07/25/14 
ICP PARTNERS POTOMAC 810 LLC / TALBERT DOWLING
E1407537 / SUPPLEMENTAL
1220 12TH ST SE   
07/16/14 
FAIRBANKS MORSE ENGINE / EVAN O'BRIEN/ D MCKEEVER SERVICES
B1409041 / CONSTRUCTION
INTERIOR ALTERATION TO EXISTING 2578 SF OFFICE SPACE. AFFECTED AREA LESS THAN 1000 SF TO CREATE DEMISING WALL AND MINOR ALTERATIONS TO PARTITION PLAN IN CONFERENCE AREA. MECHANICAL AND ELECTRICAL WORK INCLUDED.
326 L ST SE   
07/17/14 
NA NA NA
EHOP1490715 / HOME OCCUPATION
55 M ST SE   
07/16/14 
HINES GLOBAL REIT 55 M STREET LLC / TYRAN D. BRANNUM
E1407255 / SUPPLEMENTAL
20 M ST SE   
07/17/14 
SOUTHEAST REALTY LLC / JOHN GIUSEPPE-RAMCO
TL1400132 / CONSTRUCTION
FIRST TIME TENANT BUILDOUT FOR FAST FOOD ESTABLISHMENT - SUBWAY SANDWICH SHOP SEATING 41 AS SHOWN ON THE ATTACHED ARCH. MECH. PLUMB. ELECT AND FIRE PROTECTION DWGS. INTERIOR WORK ONLY.
55 M ST SE   
07/15/14 
HINES
B1409693 / CONSTRUCTION
INSTALL 6 AUTOMATIC DOOR OPERATORS LOCATED AT THE ELEVATOR LOBBIES BETWEEN THE 4TH-7TH FLOORS
100 M ST SE   
07/29/14 
SQUARE 743 INC. / SAM HOLLEN RAMCO OF DC INC.
TL1400149 / CONSTRUCTION
INTERIOR TENANT LAYOUT OF 4TH FLOOR OFFICE SPACE. PARTITIONS MEP AND LIFE SAFETY. 3 283 OF OFFICE SPACE ON 4TH FLOOR ONLY. NORTHWOOD SPEC SUITE
901 M ST SE   
07/15/14 
CARLTON RAY
AH1400584 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
1201 M ST SE   
07/15/14 
CARLTON RAY
AH1400585 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
800 NEW JERSEY AVE SE   
07/14/14 
NEW JERSEY AT H LLC / COLIN CLARK
B1409654 / CONSTRUCTION
REVISION TO PERMIT #SH1400039 FOR A OWNERSHIP CHANGE
   
07/28/14 
WC SMITH CO. / COLIN CLARK
FD1400040 / CONSTRUCTION
FOOTINGS AND FOUNDATIONS TO GRADE FOR A FUTURE APARTMENT BUILDING
1000 NEW JERSEY AVE SE   
07/11/14 
CAPITOL HILL TOWER HOUSING COOPERATIVE INCF / RICHARD G. FINFROCK
P1406902 / SUPPLEMENTAL
   
07/11/14 
CAPITOL HILL TOWER HOUSING COOPERATIVE INCF / BRANDON K VIERNES
M1402531 / SUPPLEMENTAL
   
07/22/14 
CAPITOL HILL TOWER HOUSING COOPERATIVE INCF / DONALD R. MCGLYNN
E1407426 / SUPPLEMENTAL
   
07/29/14 
JENNIFER MAY /
B1410235 / CONSTRUCTION
REPLACE EXISTING KITCHEN CABINETS WITH NEW CABINETS. CREATE A HALF WALL ON A NON LOAD BARING WALL. NEW LIGHTING.
   
07/29/14 
KOROUSH CHARKHABI
PC79044251 / POST CARD
REPLACEMENT OF NOT MORE THAN 1 PLUMBING FIXTURE ON A RESIDENTIAL COMMERCIAL OR INDUSTRIAL PROJECT.
25 POTOMAC AVE SE   
07/29/14 
FLORIDA ROCK PROPERTIES INC / MITCH A. PERMUY
E1407629 / SUPPLEMENTAL
1236 SOUTH CAPITOL ST SE   
07/11/14 
1244 SOUTH CAPITOL RESIDENTIAL LLC / GEOCAPITOL ENGINEERING LLC
SB1400340 / CONSTRUCTION
WE PROPOSE DRILLING THREE SIX-INCH DIAMETER GEOTECHNICAL TEST BORINGS USING THE HOLLOW STEM AUGER METHOD TO EVALUATE THE SUBSURFACE CONDITIONS. THE PROPOSED TEST BORING DEPTHS WILL BE 80 FEET BELOW THE EXISTING GROUND SURFACE. DRILLING EQUIPMENT WILL BE DECONTAMINATED BETWEEN EACH HOLE TO AVOID CROSS CONTAMINATION THROUGHOUT THE SITE. UPON COMPLETION THE GEOTECHNICAL TEST BORINGS WILL BE BACKFILLE...
1244 SOUTH CAPITOL ST SE   
07/11/14 
1244 SOUTH CAPITOL RESIDENTIAL LLC / GEOCAPITOL ENGINEERING LLC
SB1400341 / CONSTRUCTION
WE PROPOSE DRILLING TWO SIX-INCH DIAMETER GEOTECHNICAL TEST BORINGS USING THE HOLLOW STEM AUGER METHOD TO EVALUATE THE SUBSURFACE CONDITIONS. THE PROPOSED TEST BORING DEPTHS WILL BE 80 FEET BELOW THE EXISTING GROUND SURFACE. DRILLING EQUIPMENT WILL BE DECONTAMINATED BETWEEN EACH HOLE TO AVOID CROSS CONTAMINATION THROUGHOUT THE SITE. UPON COMPLETION THE GEOTECHNICAL TEST BORINGS WILL BE BACKFILLED ...
300 TINGEY ST SE   
07/23/14 
CM-YARDS LLC / DWIGHT SMITH
B1408815 / CONSTRUCTION
INSTALL OUTSIDE SEATING SUMMER GARDEN.
201 TINGEY ST SE   
07/11/14 
JBG COMPANIES / GEORGE DELGADO
B1409541 / CONSTRUCTION
ONE DAY SPECIAL EVENT FOR BMW SHOW--150 OCCUPANTS EXTERNAL GENERATOR RESTROOMS AND LIGHTING BAY DOORS TO REMAIN OPEN DURING FUNCTION
   
07/22/14 
JBG/SEFC 170 LLC / MICHAEL B. BELL
E1407422 / SUPPLEMENTAL
300 TINGEY ST SE   
07/10/14 
FORREST CITY AT THE YARDS / CRIS FLACK
TL1400123 / CONSTRUCTION
REVISION TO B1402734 FOR REVISIONS TO MECHANICAL AND ELECTRICAL SYSTEMS.
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

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