D.C. Sold $5 Million Florida Avenue NW Property for $400,000

WCL Community Economic Development Law Clinic

Florida Ave Rendering for development at 965 Florida Avenue. Photo courtesy of http://www.fundrise.com.

On Tuesday, September 22, 2015, during the Pope’s visit to Washington D.C., Mayor Muriel Bowser issued her first major land-use development decision, to which no D.C. Council member publicly objected. The 1.45-acre land parcel located at 965 Florida Avenue NW in the Shaw neighborhood will become a 10-story mixed-use building featuring 353 residential units, of which 107 units will be reserved for medium and low income residents, and 39,291 square feet of retail space, a majority of which will be taken up by a Whole Foods. Two independent firms considering the proposed development valued the land parcel approximately $5 million dollars higher than its sale price of $400,000.

965 Florida Ave., NW, and surrounding area. Image via Google Maps. 965 Florida Ave., NW, and surrounding area. Image via Google Maps.

Bowser’s deputy mayor for planning and economic development, Brian T. Kenner, sought to justify the substantially reduced price by claiming…

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