Regions Midatlantic | Washington, DC
Budget to Save Commercial Property Holders $21M in  D.C.
May 16, 2008

Commercial property holders in Washington, D.C. will save $21 million in savings for the year beginning in October following the D.C. Council's  passage of its 2009 budget, Washington Business Journal reported. The Council engaged a formula for lowering property taxes, but reduced savings for 2009. As a result, D.C. commercial property owners will pay $1.65 per $100 of assessed value, down from the usual $1.85, for the first $3 million of property they own.

 
Recent Washington,DC Headlines
Northern Virginia County Gets First LEED Gold Spec Office
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Two Former Staubach Execs Join CB Richard Ellis
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CB Richard Ellis Group Inc. has hired two real estate industry veterans, Michael McShea and Peter Larkin, formerly of The Staubach Co. Both focus on the public sector and have joined the company’s government and public sector solutions group, based in Washington, D.C. The Staubach Co. was recently acquired by Jones Lang LaSalle.
The Yards New Pavilion Heralds $1.7B Mixed-Use Project in D.C.
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Construction of The Yards, a 5.5 million-square-foot redevelopment endeavor in southeast Washington, D.C., by Forest City Washington, is in the works, and the company has just opened The Yards Pavilion (pictured) to give a peak at what is to come when the first phase of the project delivers late next year. An outdoor marketing gallery, The Yards Pavilion features exhibit panels and kiosks detailing the multi-faceted $1.7 billion project, the first structure of which will debut late next year as the 170-unit Foundry Lofts apartment building.
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Los Angeles-based Lowe Enterprises has refinanced Century Center I and II, a 624,600-square-foot office complex in Arlington, Va., for $116.1 million. The Washington, D.C., office of Holliday Fenoglio Fowler, L.P. placed the three-year adjustable rate loan with GE Real Estate.