Breakfast links: $500M offer contingent on Caps, Wizards staying in DC, Bowser says
Capital One Arena by Kyle Anderson licensed under Creative Commons.
Bowser holds firm: Caps and Wizards remain at Capital One Arena or DC will invest its $500M offer in new uses for the property
On Tuesday, DC Mayor Muriel Bowser affirmed that the $500 million offer to upgrade Capital One Arena is contingent on Monumental Sports & Entertainment keeping the Capitals and Wizards at the arena. If the teams move to Virginia, the $500 million will be put toward reusing the land in other ways, which could be up to and including a full redevelopment. Bowser opposes moving the Mystics out of Congress Heights and into Chinatown. (This article is behind a paywall.) (Tristan Navera / Business Journal)
Temporary Arlington bus storage yard could become permanent
The controversial, temporary storage site on North Quincy Street for Arlington Transit buses may become permanent if the fleet is transitioned to electric, according to County Manager Mark Schwartz. This would be due to space limitations at the South Arlington Arlington Transit facility. (Scott McCaffrey / GazetteLeader)
Baltimore’s new tree planting fee structure threatens to undermine its own canopy goal
Baltimore’s Department of Transportation has introduced new permit fees for tree planting work in the public right-of-way that are stretching the budgets and operations of tree-planting nonprofits, and may reduce the number of trees they can afford to plant by 25%. The city’s goal is to achieve 40% tree canopy by 2037. (This article is behind a paywall). (Cody Boteler / Baltimore Banner)
Barry Farm saw home prices increase 55% last year
Out of DC neighborhoods with at least 15 home sales last year, Barry Farm saw the steepest increase in median sale prices from $270,000 in 2022 to $420,000 in 2023, a 55% jump. West End came in second with a 35% increase and Wesley Heights came in third at 25%. (UrbanTurf)
Alexandria will ban right turn on red at more intersections
Alexandria will expand its ban on right turns at red lights to four additional intersections along North Saint Asaph Street. The bans target “conflict points” with high vehicle and pedestrian traffic. The new area saw four pedestrian injuries between 2017 and 2023. (Adam Tuss / NBC 4 Washington)
Commercial tenant in former Fannie Mae building at City Ridge seeking to sublet the space
International Baccalaureate, the current tenant of the former Fannie Mae building — which was redeveloped into the ten-acre mixed-use City Ridge development — is looking to sublease its entire 100,000-square-foot office. IB signed the lease in 2019. The rest of City Ridge’s office space is fully leased. (This article may require an email address to read). (Jon Banister / Bisnow)
Long-stalled FDA-adjacent mixed-use site in Silver Spring adds developer, groundbreaking timeline
MCB Real Estate, the developers behind Baltimore’s Harborplace redevelopment, have purchased and taken on a leadership role in the stalled Viva White Oak development project. The 250-acre parcel of land next to the FDA’s White Oak campus in Silver Spring has been planned as a mixed-use housing and life sciences campus. Expected groundbreaking is in late 2025. (This article is behind a paywall). (Dan Brendel / Business Journal)
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