Best Way to Capture Newcomer Tax Dollars
Fort Lincoln Costco
For several year in the mid-2000s, D.C. residents of a certain station had a favorite parlor game: When’s that Target coming to Columbia Heights? Long rumored but invariably delayed, the Minnesota-based superretailer finally landed in the DCUSA development in March 2008. Now the question is: Where’s our Costco? Dating back to 2001, the megawholesaler has been reportedly interested in anchoring a new shopping center in Fort Lincoln, near the crossing of New York and South Dakota Avenues NE. As the years passed, developer Michelle Hagans held her cards close as potential deals unfolded, then folded. But in December, Hagans announced that Costco had at last signed a letter of intent to locate in Fort Lincoln, with a potential 2011 opening. Only problem now is closing the deal—Hagans & Co. say they need $5 million in city financing to break ground. That’s a tough sell in a tight budget season, but with millions in tax dollars and 800-plus jobs at stake, look for a deal to pass the council within weeks.