Since January, 2003

Ad by HillAds
 (a random before-and-after moment)
September 9, 2006
September 13, 2012
1st at K, Looking North-Northeast (see more)

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."
Comments (0)
 

JDLand.com Home

Comments

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.

Add a Comment:

Comments are closed for this post.

JDLand Comments RSS Feed

See All Current News Items | Full Blog Archive

 
 Top News
  
Recent Comments:  
MurphsMyDog on Is the Long: They have a sign up with an email address to send applications to as well.
JES on Is the Long: Apparently the chef they have cited on that 'About' page won Hell's Kitchen:
JD on Meanwhile, On the: Yup, which was going to be the subject of a post on about Sept. 23. But maybe no...
202_cyclist on Meanwhile, On the: Of possible interest-- the DC chapter of the American Institute of Architects i...



City Government Data for Near Southeast Records added or updated recently displayed here; click the "archive" links to see additional detail and older records. All data from DC Government databases and RSS feeds. JDLand takes no responsibility for errors, omissions, etc. (read CapStat disclaimer). Data is retrieved daily.

Recent Crime Incidents Archive  
1100 B/O 10TH ST SE   THEFT F/AUTO /  09/08/14
400 B/O K ST SE   THEFT F/AUTO /  09/08/14
1000 B/O 4TH ST SE   THEFT F/AUTO /  09/05/14
300 B/O M ST SE   ROBBERY /  09/03/14
900 B/O 1ST ST SE   THEFT F/AUTO /  09/03/14
1000 B/O 1ST ST SE   THEFT /  09/03/14
1200 B/O 4TH ST SE   THEFT F/AUTO /  09/02/14
200 B/O M ST SE   THEFT /  09/02/14
300 B/O M ST SE   THEFT /  09/02/14
1100 B/O NEW JERSEY AVE SE   THEFT /  09/01/14
300 B/O K ST SE   THEFT F/AUTO /  08/31/14
1100 B/O 10TH ST SE   THEFT F/AUTO /  08/31/14
300 B/O I ST SE   MOTOR VEHICLE THEFT /  08/30/14
1400 B/O 1ST ST SE   THEFT /  08/29/14
300 B/O WATER ST SE   MOTOR VEHICLE THEFT /  08/27/14
3RD ST SE AND WATER ST SE   THEFT F/AUTO /  08/26/14
100 B/O K ST SE   THEFT F/AUTO /  08/25/14
400 B/O M ST SE   MOTOR VEHICLE THEFT /  08/23/14
1000 B/O NEW JERSEY AVE SE   THEFT /  08/22/14
200 B/O I ST SE   THEFT /  08/22/14
900 B/O HALF ST SE   MOTOR VEHICLE THEFT /  08/22/14
M ST SE AND HALF ST SE   ROBBERY /  08/17/14
800 B/O VIRGINIA AVE SE   THEFT F/AUTO /  08/17/14

Active Public Space Permits Archive  
1331 2ND ST SE    Carlton Ray 
Assigned
paving; streetfixture; excavation  
 02/10/14
to
02/09/15
908 3RD ST SE    Rachel Frankel 
Issued
streetfixture; new  
 07/24/14
to
09/21/14
1331 4TH ST SE    Forest City Forest City 
Issued
excavation; new  
 01/10/14
to
02/10/15
880 NEW JERSEY AVE SE    WASHINGTON GAS 
Issued
excavation; new  
 07/28/14
to
09/26/14
301 TINGEY ST SE    Potbelly Sandwich Works LLC 
Issued
new  
 03/21/12
to
11/27/14

Recent Issued Building Permits Archive  
1011 1ST ST SE   
09/03/14 
TOLL DC LP / MILLENNIUM POOL
SP1400019 / CONSTRUCTION
INSTALL STAINLESS STEEL POOL ON ROOFTOP OF THE 13-FLOOR APARTMENT BUILDING.
1200 1ST ST SE   
09/05/14 
UNITED STATES OF AMERICA / FVI2020
EX1400033 / CONSTRUCTION
EXCAVATION SITE GRADING ONLY
1020 3RD ST SE   
09/03/14 
MAYIAK LLC / SMK AND ASSOCIATES LLC
B1411577 / CONSTRUCTION
REPAIR OR REPLACE IN KIND KITCHEN CABINETS TILE ON KITCHEN FLOORS. REPLACE FLOORS THROUGHOUT REPLACE BATHROOM VANITY TOILET TUB . PAINT EXTERIOR WINDOW LEDGES AND FRONT PORCH
1212 4TH ST SE   
08/28/14 
FC 1212 LLC /
P1408191 / SUPPLEMENTAL
   
08/28/14 
FC 1212 LLC / RICHARD V CAREY
P1408185 / SUPPLEMENTAL
   
09/09/14 
FC 1212 LLC /
FB1400131 / SUPPLEMENTAL
   
09/09/14 
FC 1212 LLC / WENDELL D. NIXON
M1403160 / SUPPLEMENTAL
1331 4TH ST SE   
08/28/14 
UNITED STATES OF AMERICA / STEPHEN J. EXELBERT
P1408218 / SUPPLEMENTAL
   
09/09/14 
UNITED STATES OF AMERICA /
P1407907 / SUPPLEMENTAL
1220 12TH ST SE   
08/27/14 
FAIRBANKS MORSE ENGINE / EVAN O'BRIEN/ D MCKEEVER SERVICES
B1411219 / CONSTRUCTION
INTERIOR ONLY NON-STRUCTURAL ALTERATION TO EXISTING OFFICE SPACE. WORK INCLUDS MINOR PARTITION CHANGES AND THE ASSOCIATED HVAC AND ELECTRICAL ALTERATIONS.
1200 13TH ST SE   
09/03/14 
WASHINGTON GAS LIGHT COMPANY / CHRIS WILLETT URS CORPORATION
SB1400412 / CONSTRUCTION
DCCR PROPOSES TO DRILL TWO GEOTECHNICAL BOARINGS MS-MW-02D & MS-MW-02S LOCATED AT 1200 13TH ST SE. BOTH BOARINGS WILL BE 6 INCHES IN DIAMETER 02D WILL BE 36 FEET DEEP WIOTH A 10 FOOT SCREENED INTERVAL STARTING AT 25 FEET DEEP AND 02S WILL BE 23 FEET DEEP WITH A 10 FOOT SCREENED INTERVAL STARTING AT 13 FEET DEEP. BOTH WILL BE DIRLLED WITH HOLLOW STEM AUGER. NO PERMANENT CASING WILL BE INSTALLED. SE...
   
09/03/14 
WASHINGTON GAS LIGHT COMPANY / CHRIS WILLETT URS CORPORATION
SB1400413 / CONSTRUCTION
DCCR PROPOSES TO DRILL ONE GEOTECHNICAL BORING MS-MW 01 LOCATED IN 1200 13TH ST SE. THE BORING WILL BE 6 INCHES IN DIAMETER AND 200 FEET BGS WITH A SCREENED INTERVAL FROM 135 TO 195 FEET BGS DRILLED BY MUD ROTARY. PERMANENT STELL CASING WILL INSTALLED AND BE SOCKETED 10 FEET INTO P / A AND GROUTED BEFORE DRILLING INTO THE PTX. MSDS FOR DRILLING MUD ADDITIVES ATTACHED. SEE IDW MANAGEMENT PLAN AND A...
1015 HALF ST SE   
09/04/14 
HALF ST SE LLC /
P1408319 / SUPPLEMENTAL
601 L ST SE   
09/02/14 
V ? V CONSTRUCTION / STEPHANIE DELCA TRAFFIC ENGINEERING SERVCIES LLC
TC1400023 / CONSTRUCTION
TO ERECT TOWER CRANE AS PER PLANS.
20 M ST SE   
08/27/14 
JOHN GLUSEPPE-RAMCO / CARL LAVENDT; JOHN GLUSEPPE-RAMCO; CARL LAVENDT
E10905761 / SUPPLEMENTAL
   
09/08/14 
SOUTHEAST REALTY LLC / WESLEY R. DAVIS
E1408797 / SUPPLEMENTAL
55 M ST SE   
09/11/14 
HINES GLOBAL REIT 55 M STREET LLC / DANIEL O WHITE
E1408953 / SUPPLEMENTAL
901 M ST SE   
09/12/14 
CARLTON RAY
AH1400687 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
1201 M ST SE   
09/12/14 
CARLTON RAY
AH1400686 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
0 N ST SE   
09/10/14 
SNALLYGASTER / ERIK BERGMAN
TN1400195 / CONSTRUCTION
SPECIAL EVENT SNALLYGASTER 1 10X40 TENT 1 20X90 TENT 2 20X160 TENT 1 30X15 STAGE TENT TEMPORARY GENERATOR
   
09/10/14 
DISTRICT OF COLUMBIA / JAMES A. WILLIAMS
E1408914 / SUPPLEMENTAL
25 POTOMAC AVE SE   
09/09/14 
GRIFFIN STEPHEN
PC60869040 / POST CARD
INSTALLATION OF 1 TEMPORARY CONSTRUCTION TRAILER ON PRIVATE PROPERTY.
1500 SOUTH CAPITOL ST SE   
09/09/14 
COMCAST CABLE / MICHAEL SONESEN
AH1400678 / CONSTRUCTION
PLACING INNERDUCT IN EXISITING VERIZON MANHOLES SEPTEMEBR 5TH 2014 - OCTOBER 5TH 2014 EVENINGS ? SATRUDAYS 7PM TO 2AM
300 TINGEY ST SE   
09/11/14 
FC BOILERMAKER LLC / CHRIS WING
B1407179 / CONSTRUCTION
INTERIOR ALTERATION FOR NEW UNLEASHED BY PETCO STORE.
   
09/05/14 
FC BOILERMAKER LLC
B1411671 / CONSTRUCTION
INSTALL FIRE SUPPRESSION SYSTEM TO EXHAUST HOOD.
   
09/13/14 
FC BOILERMAKER LIC FC BOILERMAKER LIC / DENNIS STUBBS; FC BOILERMAKER FC BOILERMAKER LIC; DENNIS STUBBS
P24303627 / SUPPLEMENTAL
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;

Real Property Sales Archive  
No commercial transaction records added or modified in the past two weeks.


Project Directory




Blog/Home
Project Directory
Photo Archive
Event Photos
 
Nats Park
Food Map
What's New
History

 
Demolished Buildings
Historic Photos
Satellite Images
Timeline
 
About JDLand
Message JD
Advertise
Photo Use
 
     © Copyright 2014 JD.