Groundbreaking for CVS in Petworth
The transformation of the intersection of Georgia Ave. and New Hampshire Ave. is almost complete.
On the northeast corner sits the Petworth Metro Station, opened in 1999. The well-regarded Sweet Mango Cafe is directly south (”I want to bathe in this chicken” is a direct quote from Yelp.) Directly to the west, there are the fancy Park Place apartments, which opened this Spring.
And then just below that, there is, well, a long-empty lot—apparently the former site of a gas station, which closed up in the early 1990s, according to DCmud.
A few years back, development firm Lakritz Adler—which also recently finished this boutique condo building by 12th and U Streets— acquired this “long-vacant, environmentally-contaminated” site, and was able to address the contamination and sign a lease with CVS, according to the group’s website. The groundbreaking was held this morning.
According to DCmud, “Construction, not yet begun, is expected to wrap up mid-2010.”
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Linked From: November 13th, 2009The Archdiocese Plays Hardball: Loose Lips Daily - City Desk - Washington City Paper
10:35 am[...] Ground is broken on Petworth CVS, Housing Complex notes. [...]
5:31 pm
i wrote to Councilman Graham months ago. (It is my understanding that a large amount of public money is subsidizing this project.)
We have no need for a CVS. I can buy everything a CVS sells within two blocks of this corner. Drinks–safeway, sweet mango, numerous cafe’s lining Georgia directly across street. Greeting cards–Safeway. T-shirt/umbrellas (store next to sweet mango, several more themed stores on georgia across the street). Hair care (several stores). pharmacy–Safeway. Crappy disposable camera–safeway.
We could use a nice thoughtful, attractice, non-sidewalk-crowding development there. Show us the architectural plans and i’ll believe it.
If there isn’t some actual public benefit (a CVS is none), then stop looting tax revenue for developers.
5:32 pm
My point in mentioning Councilman Graham was the lack of any meaningful response. Just the usual “oh, i see… bests jim” type thing.
5:48 pm
You’re probably referring to this:”The project was made possible partly through a $2 million Georgia Avenue Great Streets Grant from the District, which spends approximately one-fifth of its $10 million budget for the area. The grant will be financed through TIF bonds, which make the District a development partner of sorts creating an added value for the lot in order to secure additional private financing. The TIF bond will be financed through the sales tax revenue generated by the new CVS and will expire after 25 year or when the taxes revenue fulfill the financial obligations.” (From DCmud: http://dcmud.blogspot.com/2009/11/groundbreaking-for-georgia-avenue-cvs.html)
6:07 pm
Is DC actually contributing to development of a CVS?
DCmud isn’t clear on that point. The money could be have been used for environmental clean-up or something like which the government would have likely funded in any case. But if CVS was specifically provided tax payers dollars in support, then I might have an issue. This is from CVS’s Q3:
Net revenues for the third quarter of 2009, increased $3.8 billion to $24.6 billion, up from $20.9 billion
during the third quarter of 2008.
For the quarter, CVS Caremark opened 65 new retail pharmacy stores, and closed 6 retail pharmacy stores
and 1 specialty pharmacy. In addition, the Company relocated 22 retail pharmacy stores. As of September
30, 2009, the Company operated 7,008 retail pharmacy stores, 49 specialty pharmacy stores, 20
specialty mail order pharmacies and 6 mail order pharmacies in 43 states, the District of Columbia and
Puerto Rico.
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTk2NTd8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
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If public money was involved, I would have rather seen it go to supporting locally owned, small business restaurant start-ups, stores and other establishments.
6:24 pm
Petworth is gonna be huge soon—good to see CVS will be moving in.