A price tag for the Hurt Home
Would you sell a palatial mansion in Georgetown for only $1.37 million? Well, you're about to. The District is proposing to sell the historic Hurt Home building in Georgetown to a private developer to convert into condos. The price tag is $1.37 million, a sum that would get you a nice three-bedroom rowhouse in Georgetown but nothing like the turn-of-the-century neoclassical Hurt Home.
Despite the reverse sticker-shock, this isn't necessarily a bad deal for the District. The building isn't really a mansion; it just looks like one. In reality, it's a decrepit institutional dormitory. It will need a good deal of expensive work before it can be converted into condos worth selling. By selling it for a reduced price, the District can ensure that the building is brought back from disrepair and that the project will meet certain goals, such as the requirement that 34 percent of the units be affordable housing.
But if the District wants Georgetown residents to feel comfortable with the price, it will have to do a better job of keeping this process transparent.
Topher Mathews blogs at The Georgetown Metropolitan . The Local Blog Network is a group of bloggers from around the D.C. region who have agreed to make regular contributions to All Opinions Are Local.
| June 24, 2010; 2:24 PM ET
Categories: D.C., Georgetown, HotTopic, Local blog network
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