The District’s financial manager Thursday declined to bless a $280 million parking and development plan for the new Southeast baseball stadium, citing a dozen hurdles that must be cleared within weeks to finish the project on time.
The D.C. Zoning Commission, however, moved quickly Thursday evening to approve the mixed-use venture, backed by Mayor Anthony Williams, and to deny a proposal for exposed, above-ground parking structures, as sought by the Washington Nationals’ team owner.
“We’re looking for redevelopment of an area and going back to exposed garages does not do anything for where we want to be,” said Michael Turnbull, commission member. “It’s not something we even want to consider.”
Earlier in the day, Chief Financial Officer Natwar Gandhi told the D.C. Council’s economic development committee that the project as proposed is not fiscally sound. The parking garages face a $9 million shortfall, negotiations for private financing are not complete and myriad legal issues must be cleared up, all by Aug. 1, Gandhi said.
“I want to emphasize that in order for the District to have the best chance to avoid contractual penalties under the District’s agreement with Baseball, all of these steps must be completed by Aug. 1 to begin design and engineering so that construction may begin by Labor Day,” Gandhi said.
The mixed-use development would feature above and below-ground parking, retail and condominiums on the north end of the South Capitol Street ballpark. Other than the stadium-related parking, the project is to be privately financed, and it is expected to generate roughly $8 million annually in new tax revenue.
But it requires council approval, as well as the endorsement of the city’s zoning commission.
“Right now, this looks kind of shaky to me,” said Ward 5 Council Member Vincent Orange, whose government operations committee will be first to vote on the resolution.
Miller, who also testified, guaranteed the project would be finished by Nationals’ opening day in 2008.
