The parking and mixed-use development project proposed for the new Southeast ballpark took a first legislative step toward approval Friday in a D.C. Council committee.
The government operations panel, chaired by Council Member Vincent
Orange, unanimously agreed that two city-owned parcels on the north side of South Capitol Street stadium are no longer needed for a public purpose, and are therefore surplus.
The next, more important step will come Monday, when the economic development committee takes up the same bill — this time to consider the financial implications of selling the property, valued at $83 million, to Herb
Miller’s Western Development Corp.
“It’s great to see members of the council recognize that this is the optimaleconomic development,” Miller said.
The Western development, as proposed, includes two parking garages cloaked by more than 650 condominium units and a 180-room boutique hotel. The plan calls for 900 below-ground parking spaces to serve the development and 925 above-ground spaces for the ballpark.
The $281 million project is to be privately financed, except for the stadium-related parking. Chief Financial Officer Natwar Gandhi warned Thursday the garage financing could be short $9 million.
“We really do, because of baseball, want to put development on this property,” said Council Member Carol Schwartz. “Not just a parking lot, but development so we can reap the benefits.”
The city’s deal with Major League Baseball requires that the District provide 1,225 on-site parking spaces for the Washington Nationals’ stadium by opening day 2008.
Estimated benefits of development
» Adds 1,000 new residents in what Herb Miller calls “industrial backwater.”
» Adds $120 million in new taxes over 30 years.
» Adds more jobs for D.C. residents and local, small, minority-owned businesses.
