Corporate Deal Leaves Residents Feeling Raw

`In "More Reasons to Hate the 1%", D.C.'s Zoning Commission will continue to hear testimony regarding a proposed deal between the city and corporate developers to sell three pieces of public property in the West End neighborhood of Ward 2 on Thursday, January 5, 2012 at 6:30p.m.  The deal would sell the land to the developer so they can build approximately 175 high-end million-dollar condominiums and luxury rentals.

The three given up are of particular interest as they are located in one of the city's oldest neighborhood. They are the firehouse, located on a lot at the corner of the 2300 block of M Street and a public library and police station located between the 2300 and 2400 blocks of L Street, NW. Here is the plan.

 

Why is this happening? Well the Deputy Mayor's Office on Economic Development (DMPED) said it had no more money for the firehouse and library. EastBanc came along to help build new ones if they can own the land from top to bottom the land. There was also the expectation EastBanc would provide the library and fire station services along with a promise to build 50 affordable house - it only makes up about eight percent of the new housing units - unites above the fire station. EastBanc will make an approximate profit of more than $100-million dollars.

This is a requirement based off a clause on the first page states "The District requires that any Offers to redevelop Square 37 include the replacement of the West End Neighborhood Library either on Square 37, on Square 50, or another site in the immediate neighborhood. Any Offers to redevelop Square 50 must include the replacement of the West End Fire Station either on Square 37, on Square 50, or another site in the immediate neighborhood. So it's perfectly clear that both sides realize this part of the deal is iron-clad. EastBanc itself states "it would designate affordable housing in its fire station project for the broader 'planned-unit development.' "

The residents lose the police station and the city's housing gap will expand due to the price of the condos being too high for students of George Washington University.  Understandably the residents are very angry about the deal.

Now here is where the trick comes into play. EastBanc, now past the DMPED, is asking DC's Zoning Commission if they can go through with their plan of building the expensive condos without providing the library, fire station, or affordable housing requirements presented on the first page of the deal.  What was their reaction? Take a look for yourself. Here are the legislation, terms sheet, land appraisals, and fiscal impacts.

For those living in or near the area, here is more information.

Hearing on the West End Parcels Deal (Part 2)
Thursday, Janurary 5, 2011
6:30PM start; 7:30 public testimony
D.C. Office of Zoning
441 4th Street NW, Second floor South

Send written testimony to:
Sharon.Schellin@DC.Gov
or DCSubmissions@dc.gov
or be there to testify in person.

Office of Zoning
(202)-727-0340
http://dcoz.dc.gov/main.shtm