The total funding will exceed the actual cost to construct the baseball park. "The decision made here tonight keeps the Nationals in the District and, in time, will generate $100 million a year in new revenue for the District that we can use on critical programs," Williams says.
The next step in the development process rests with MLB's approval of the council's amended lease, after which a team owner will be put in place. Construction activity could begin as early as this spring.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
