Broadcast Center One’s Hold Up?
10 06 2008With all the hurdles cleared back in January, we’re wondering what’s the hold up on the ground breaking for the highly anticipated Broadcast Center One in Shaw. The D.C. Council approved the $23 million subsidy for the mixed-use headquarters of Radio One already and as far as we can tell the site looks ready to go!
If Ellis Development and West Group want to wrap this project up by 2010 as planned, dirt has got to start moving! Anyone have any idea about when things are going to get underway? We got a “no comment” back from the developers.
As always, we love to hear from you so drop us a line about this or anything else on your mind… DCMetrocentric@gmail.com
Great question! One I’ve had myself…I’ve assumed the delay had to do with Radio One’s financial performance…or lack thereof…lately…just do some googling and you’ll find that info…
It’ll be interesting to see if you get any responses that attribute the delay to something else…
I emailed Councilman Jim Graham the same question about a month ago and he copied in Roy “Chip” Ellis and asked him the question. Mr. Ellis replied to us that the target groundbreaking is now September.
Councilman Graham has always been very responsive to me when I have wanted to find out information on this project and the Howard Theather project. I suggest always going through his office when you have a question. It seems the developers are more responsive to him than to general public.
Let’s hope that the September target is kept. I also suggest that people email other members of the city council and keep asking the same question on when the groundbreaking will be. Hopefully we will get the same answer.
Here is the list of council members. Click on their websites and send them emails!
http://www.dccouncil.washington.dc.us/members.html
They actually responded “no comment”? That doesn’t sound promising…
Mr. Q refers to the NASDAQ Delisting Warning Radio One received recently, i.e., notice that value of shares is near “junk” level, close to a buck apiece. Radio One just sold off a station in LA but this doesn’t seem to have helped. The company took $400 million in write-downs last year and shareholders were miffed that execs are getting bonuses and raises.
Other than that, everything is real solid.
http://www.fmqb.com/Article.asp?id=722946
Any new updates on Broadcast Center One? I live near the site and would LOVE to see some movement on this project. By closing down many of the businesses on the block in preparation and then not moving forward with the project, an already run down block has become even worse
[…] This is one of the greatest looking facades in town and we hope we can report on progress soon but it seems like this whole block is cured right now… next door to the site is the stalled Broadcast Center One. […]
[…] seems like it has been years since we heard any news on the long delayed Broadcast Center One project in Shaw, but now comes some bad news that Radio One has pulled out of the development on top of the […]