Thanks for pointing this out, Roland. The University gave an hour-long presentation to the Town Council on September 8 about M Square development. <br><br>They mentioned issues with the NOAA building, but were a bit more optimistic about it than the article you link to -- they anticipate that it will be occupied in 2012 (admittedly a disappointing delay). The University representatives indicated, as the article did, that the problems are tied to the ongoing issues with financial markets. <br>
<br>On the up side, they pointed out that the two other buildings on University Research Court are almost fully leased, even the one that is not yet complete (it's expected to be occupied in December). Those two buildings are estimated to provide the Town with at least $175,000 in property taxes every year. They also presented plans they have for more development in the Riverdale Park section of M Square, including a state-of-the-art cancer treatment center. The developer for these new buildings actually *has* lined up financing, so the projects can go forward once they are approved. While I have some concerns about the impact of the development on Ward 2, which I mention in my report in the upcoming (October) Town Crier, I think the project as a whole is moving forward and in a good direction. I'll be working with the University and the rest of the Town Council to make sure future M Square development improves the quality of life in Riverdale Park.<br>
<br>Alan Thompson<br>Ward 2 Town Council Representative<br><br><div class="gmail_quote">On Wed, Sep 23, 2009 at 6:22 PM, Roland Walker <span dir="ltr"><<a href="mailto:walker@pobox.com">walker@pobox.com</a>></span> wrote:<br>
<blockquote class="gmail_quote" style="border-left: 1px solid rgb(204, 204, 204); margin: 0pt 0pt 0pt 0.8ex; padding-left: 1ex;">For those that are following the development of the M-Square office<br>
park, one of the developers is in financial trouble<br>
<br>
<a href="http://washington.bizjournals.com/washington/stories/2009/06/22/story1.html" target="_blank">http://washington.bizjournals.com/washington/stories/2009/06/22/story1.html</a><br>
<br>
and it looks like the NOAA project is stalled. Strange I hadn't heard<br>
about this before; maybe it was in the Town Crier and I missed it.<br>
<br>
R<br>
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