14W, Shooting (Again) for Fall
Noticing that tomorrow's Council legislative agenda includes a reading and vote on the "14W and Anthony Bowen YMCA Project Tax Abatement Implementation Clarification Temporary Act of 2010"–following similar bills from previous sessions that have secured developer Perseus sales and property tax exemptions worth $3.6 million over the first four years–I thought I'd check in on the project at 14th and W Streets NW that has lain dormant since breaking ground in September 2008.
"The climate gets better by the day," Perseus executive vice president John "Woody" Bolton said cheerily. "I’d love to say this fall, and I don’t want to jinx anything, but things are moving nicely."
We heard the same thing last April, of course. And in March, they were just cleaning up the place to keep it from being a hazard. But Woody's right–it seems like summer has melted the credit markets' deep freeze. If Perseus can't get financing in the next few months, I don't know when they'll ever be able to.
Photo via flickr user LHB Communications.