Tuesday, May 21, 2013

A Map of Deals for Developers

Developers have received $1.7 billion in subsidies and tax breaks  in the District in the last decade. Some of these projects are cash machines for the developers, with corporate tenants like Target at the DC USA shopping center in Columbia Heights, or homes for professional sports teams like the Verizon Center. That's a stunning pot of money for this little city, and to an industry that may not need that sort of public assistance.

I made a map of the projects that received the largest packages of subsidies:



You can't help but notice that only one of the top 20 subsidized projects is across the river, and that the majority are along the heart of a Northwest corridor that you wouldn't think would need any assistance to turn a profit.

Here are 20 projects that received the most public assistance, according to WAMU and the Office of Chief Financial Officer. "Deals for Developers" also looked at the campaign contributions the developers gave to city officials, but with strict regulations on campaign finance, I don't think that data set is particularly persuasive.


Project
Subsidy Recipient
Subsidy Value
Total Donations
The Wharf
PN Hoffman, Paramount, E. R. Bacon, CityPartners, Madison Marquette, Gotham
$293,000,000
$126,733
Convention Center Hotel
Marriott, Quadrangle, Capstone, RLJ, Gould
$209,200,000
$137,150
US DOT (Anacostia Waterfront Projects)
JBG , Clark Enterprises
$111,000,000
$67,400
The Yards
Forest City
$90,000,000
$146,350
Gallery Place
Western Development, Akridge
$73,650,000
$71,178
Capper Carrollsburg
Forest City , WC Smith, Urban Atlantic, EYA
$55,000,000
$334,200
Verizon Center Renovation
DC Arena, Monumental Sports, Lerner Enterprises
$50,000,000
$142,500
NoMa residential development
Archstone, Cohen Companies, Stonebridge, Palmetto
$50,000,000
$93,850
Newseum
Carr
$47,234,770
$10,400
Adams Morgan Hotel
Friedman Capital, Marriott, Beztak
$46,000,000
$37,350
Mandarin Oriental Hotel
Republic Properties, CityInterests
$46,000,000
$29,350
DC USA
Grid Properties
$43,000,000
$17,500
National Public Radio, Inc.
Boston Properties, NPR
$41,000,000
$4,220
Skyland Shopping Center
WC Smith, Rappaport
$40,000,000
$122,150
City Market at O Street
Roadside Development
$38,650,000
$34,181
Living Social
Living Social
$32,500,000
$100
Capital Fire Station
CityPartners, Potomac Investment Properties, Paramount, DC Strategy Group, Adams Investment,
$25,300,000
$123,646
Hine Jr. H.S.
EastBanc, Stanton Development, L. S. Caldwell & Associates, Dantes Partners, Wilmot, The Jarvis Company
$22,900,000
$194,045
Kelsey Gardens Redevelopment Project
Metropolitan Development, CEMI, Akridge
$20,264,000
$73,951
Center Leg Freeway
Property Group Partners,
$19,363,000
$31,600


This was a very impressive piece of reporting from WAMU. They also provided a lot of data for other journalists to analyze and visualize. You should donate to them:

http://wamu.org/campaign


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