Friday, August 26, 2011

Giant Development Delayed Until Who-Knows-When

The real estate blog DCMud has reported  that the Newark Street Giant development project, known as Cathedral Commons, is still searching for a financial partner, and the development is on hold until one is found. According to DCMud's article, the earliest groundbreaking would be in the beginning of 2012. In the meanwhile, the Giant supermarket will remain open. You can read the full article here.

The article alludes to the current financial climate as a cause of the delay, but the lawsuit may also play a factor: The lawsuit may be scaring away potential backers, as uncertainty and multi-million dollar projects don't go hand in hand. If that's the case, then it's a shame that just a handful of people can do so much to thwart what over 95 percent of the Giant's neighbors, the Mayor, Councilmember Cheh and most other elected officials, want. 
Posted by Peggy Robin at 8:00 AM
Labels: ,

1 comment:

  1. AnonymousAugust 26, 2011 at 9:24 AM

    Anonymous posters in other forums are hinting that the appeal may be successful, thus potentially throwing the process back to square one with the BZA.

    My layperson's read of the law and precedents suggest otherwise. It would be very instructive if some of the appelants (some of whom are leaders in the local citizens association) articulate their goals for the appeal, the legal justification and what they seek.

    For the 98% of the rest of us, it will be helpful to understand this. All you are doing is costing our neighborhood embarrassment and harm.

    ReplyDelete

Subscribe to: Post Comments (Atom)