A Win-Win-Win Partnership

Posted by Sheila Redick on March 09, 2006

Lack of space for new development and the need for updated and upgraded municipal buildings such as libraries and schools may give way to a unique partnership between the city and space- hungry developers in D.C. An article in today's Washington Post notes that the city needs an esti- mated $2 billion in capital improvements while developers have run out of places to feed the still- hot housing and retail markets in the nation's capital.

The solution: The developers would build new libraries, schools and maybe even police stations, and get the privilege of putting condominiums or shops on top of or alongside them. The city gets its new buildings, developers get land and residents don't get a tax increase. Read the full article here.