Friday, March 30, 2012

Not So Good News Regarding St E.

Washington real estate developers Jeff Epperson and Rick Powell began snapping up land on Howard Road in Anacostia in 2004. It was an aggressive move in the downtrodden neighborhood.

The potential, after all, was great.

A new headquarters for Homeland Security — the biggest federal construction project in the country since the Pentagon in the 1940s — was on the way. The $3.4 billion project was expected to transform the sweeping grounds of St. Elizabeths Hospital into a national security campus and bring 16,000 jobs to the very poorest of Washington neighborhoods.

Federal and District officials have promoted the project as a savior that would finally bring jobs and prosperity to surrounding Southeast neighborhoods — Anacostia, Buena Vista, Barry Farm, Congress Heights. The work-a-day crowd with cash to spend also has signalled opportunity to commercial real estate developers whose business was kicked sideways in the recession.


No comments:

Post a Comment