Would you take the money and run?

A few people have talked about this but it’s been mostly hush hush. The Wash Post reported that a developer proposed to the condo owners at 14th & S Street a buyout offer of $800k per unit. According to the post, these were originally sold ten+ years ago as low income housing units to the occupants for about $125k. This would give them a big gain for the 2bdrm units. The lot is huge with its own parking on the interior of the lot and picnic facilities which would give the developer a one of the biggest lots in the hood. The complicating factor is that the Condo Board must opt to secede from it’s relationship with a development on 11th Street (I think) AND then ALL 54 unit owners must agree.If you have ever seen a condo board in action you know this is impossible:

http://www.princeofpetworth.com/2011/09/development-scuttlebutt-developer-working-on-acquiring-property-at-14th-and-s-st-nw/

Pop also talks about possible development of the City Park and Rec parking facilitiy behind Masa 14. Good luck with that. While I think there are better uses for that land (a park maybe? or resident PARKING?), Park & Rec woudl never give it up.

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