Akridge May Force City to Use Eminent Domain as Stadium Deal Shifts
“When Mayor-elect Muriel Bowser announced last night that she would try to pass the D.C. United stadium deal by year’s end but without the controversial swap of the Frank D. Reeves Municipal Center, several parties to the deal must have breathed a collective sigh of relief.
For the soccer team, it was a clear sign of Bowser’s commitment to building the stadium at Buzzard Point, and quickly, when her stance had previously been murkier. For members of the D.C. Council and the public who were critical of the plan to trade away the Reeves Center, at the high-demand corner of 14th and U streets NW, it meant Reeves could be retained for a more lucrative market sale or another use. For Pepco and the other Buzzard Point landowners who stand to profit from the deal, it showed Bowser would leave the remainder of the arrangement intact.
But there was one apparent loser. The developer Akridge was set to trade mostly vacant land at Buzzard Point for the Reeves building, which it would then develop into residences, offices, and retail, at terms that a Council-commissioned report deemed favorable to Akridge. Instead, while the rest of the deal would be held together, Bowser’s announcement meant that Akridge’s portion would be largely cut out.”
Wiener, Aaron. Washington City Paper 9 November 2014.