Mayor Bowser Proposes Over $110M In TIF Funding For Anacostia, Brentwood Projects

Two major mixed-use developments in emerging D.C. neighborhoods could receive over $110M in tax-exempt financing from the D.C. government.

Curtis Investments, Four Points A rendering of the next building planned at Anacostia’s Reunion Square development Mayor Muriel Bowser introduced two pieces of legislation Monday to provide tax increment financing packages for the Reunion Square development in Anacostia and the RIA development in Northeast D.C.

The proposed Reunion Square TIF is valued at $60.8M, the legislation says. The project, from developers Four Points and Curtis Investments, would be the first development in Ward 8 to receive a TIF package. The financing would support the next phase of the 8-acre development, slated to include a 180-room hotel, a 133-unit apartment building, 250K SF of office space, 13,590 SF of retail, community space and underground parking. The development sits along Martin Luther King Avenue SE, less than a half-mile from the Anacostia Metro station.

Three office buildings are already occupied on the site, including one the development team converted from a warehouse. The project was approved in 2013 for nine total buildings with 945K SF of office space, 481K SF of residential space and 144K SF of retail.

Click here to read the rest of the article written by Jon Banister over at Bis Now

Read more at:

Leave a Reply

Your email address will not be published. Required fields are marked *