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O Street Market Gets a $35 Million Boost

Many worried about the historic O Street Market may rest a little easier with the news that the city will kick in on the $260 million redevelopment project being led by Roadside Development.

Mayor Adrian M. Fenty announced a $35 million tax increment financing package for the project yesterday in the legendary Shaw neighborhood.

The plans are huge. The CityMarket at O project, as it's known, will include 630 units of housing, 80 of which will be affordable senior units; a hotel; a parking garage; and 87,000 square feet of retail space. That would include a new, larger Giant grocery store to replace the nearly 30-year-old one currently operating on the site.

What's also promised is 400 construction jobs and almost 400 permanent jobs. Under the funding agreement, more than half of those jobs are supposed to be offered to District residents.

The deal is pending approval by the District Council. Once approved, according to the Fenty administration, ground would be broken in fall 2009, and the project completed by 2011.

By Marcia Davis  |  June 28, 2008; 9:07 AM ET
Categories:  Economic Development  
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Comments


Will there be a tax abatement for the first 5 years for the housing units?

Posted by: JohnAdams1 | June 28, 2008 1:52 PM | Report abuse

Where on O street is this? What quadrant?

Posted by: jgloo | June 28, 2008 1:57 PM | Report abuse

Google says that it's at 8th St NW, in Shaw. I agree that it would have been useful to mention this in the story.

Posted by: Jay Reeder | June 28, 2008 2:36 PM | Report abuse

I think it is where Florida meets Georgia, in that area.

A revitalization is great but more housing is not.

Posted by: JohnAdams1 | June 28, 2008 5:03 PM | Report abuse

Not starting til Fall 2009? Why the year long pause? It's pretty much vacant as is. The shovels should be hitting the ground by December 2008 IMO...

Posted by: Scott G | June 28, 2008 5:30 PM | Report abuse

Please bring Wegmanns to DC?

Posted by: Wagner | June 28, 2008 8:25 PM | Report abuse

i know that having the exact address would be nice, but none of you commenting live in the neighborhood, do you, or i think you would have been more familiar with this. it's been on our minds here daily for years.

Posted by: IMGoph | June 29, 2008 4:28 PM | Report abuse

The comments to this entry are closed.

 
 
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