May 3, 2006

LEDO PIZZA IN THE WORKS IN GALLERY PLACE/NOMA

Turning down millions for his property in the 400 block of Mass. Ave. NW, Austin Spriggs expects to sign an agreement in the coming weeks for a Ledo pizza franchise. Plans call for the pizzas to start coming out of the oven in 2007, says the WaPost.

But what could have been?

Trammell Crow offered Spriggs $2 million to $3 million in late 2003, when city records listed the peeling rowhouse's assessed value at $199,340. And Scott Frankel, a broker who represented Edenbaum, the largest single landowner on the block, also repeatedly tried to make a deal with Spriggs. He said Spriggs was offered about $1.5 million in 2003, but he wanted five to 10 times as much.

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