Wednesday, April 27, 2011

CityMarket at O financing clears hurdle; construction still a ways off

Those in Shaw who have been waiting for an inkling of positivie news related to the long-awaited CityMarket at O development finally have something to celebrate. Developer Roadside Development announced yesterday on the project's website that the HUD loan deal, which had stalled the project for decades months, had finally been approved, meaning that the project can officially go forward.



But before you start getting excited about shopping at the new Giant store, Roadside also cautions that "there is a lot of work to get done before a CityMarket construction start" and that this is only "the beginning of getting construction funding in place."

In other words: don't hold your breath. The project, which was originally scheduled to break ground in 2008 with an anticipated late-2010/early-2011 completion date, is now likelu looking at a late 2013 delivery, and even that may be an optimistic projection.

3 comments:

FrenchTwistDC said...

2013!?!!? *le sigh*

Anonymous said...

How can something that would be so good for the community take so long to execute? So frustrating. How do they expect people to stay excited and positive with all of the false starts, delays and disappointments?

Disgusted in DC said...

At least Roadside has kept at it, because no one else would have post 9/2008. They are doing better than the Kelsey Gardens site in which nothing is happening.