April 27, 2007


First, the police are on the run. Now Meto is contemplating a move to Anacostia with a financial push from D.C.

Under a plan drafted by the D.C. government, Metro would receive $68 mil from the sale of its HQ building at 600 Fifth St. NW for construction of a 275,000-square-foot headquarters at the Anacostia Metro Station, said the Examiner. It would also receive any net proceeds from the sale, and another $40 mil to build a badly needed pedestrian tunnel between Gallery Place and Metro Center.

The proposal assumes the building will sell for roughly $108 mil, covering the payments to Metro. But just in case, it also pledges DC will finance any shortfall. The transit agency’s headquarters is valued at $58.4 mil.

Even if DC had to cough up a few bucks to cover this deal, it would be a win-win. Anacostia gets a boost. Downtown returns a piece to the tax rolls and paves the way for another condo-retail-office megaplex. Ain't life grand?

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