We know that the drama of baseball stadium financing is so 2004, but don’t forget there are a few loose ends to tie up on the stadium deal. Particularly among them is D.C. Council Chairman Linda Cropp’s desire to attract private financing to build the new South Capitol Street stadium in order to lessen the burden on the District. The city has been receiving and is now reviewing a number of proposals from private interests. And to just to join the game, you would have had to shell out a non-refundable $10,000 deposit.
The Post says that eight financing proposals are now being examined by District consultants.
Among the proposals were a developer’s offer to pay for much of the $530 million project in return for the right to build a mixed-use town center on adjacent land; a plan that would give the city $100 million in exchange for revenue from a special parking district; and one that would allow private investors to build the ballpark and use it as a tax write-off.
The Post quoted an anonymous administration official saying it’s now time to “Show me the money.”
Regarding the “town center” proposal, we would hope that terminology is stricken from the record as it suggests building a “lifestyle” center, e.g. Largo Town Center, or an isolated suburban enclave within the city’s urban core. We thought the intent of building the stadium on the Anacostia waterfront was to integrate development into the District’s existing Southeast-Southwest fabric. All we can say is don’t use dubious Ikea-styled urban development tactics to rebuild the South Capitol Street corridor. It could agitate the locals.