8/31/11 Maryland Jockey Club owner Frank Stronach has proposed building a multimillion-dollar commercial development next to the Laurel Park racetrack, according to the Washington Business Journal. Earlier this year, Stronach acquired Laurel Park, Pimlico racetrack in Baltimore and a training center in Bowie, Md. Various levels of approval still are required before the project, which would include a
8/31/11 The Department of State is seeking a contractor to build its U.S. Diplomacy Center at the corner of 21st Street and Virginia Avenue NW in Washington, D.C., according to the Washington Business Journal. The department wants to present preliminary designs for the $50 million project to the National Capital Planning Commission for approval during late fall or early winter.
Comstock Partners LC, Reston, Va., is preparing to break ground on various projects on land it holds near Metro stations in Reston and Ashburn, Va., according to the Washington Business Journal. The company is planning two mixed-use developments—Reston Station and Loudon Station—which would involve 5.1 million square feet of residential, office, retail and hotel space. Comstock plans to break ground
Washington, D.C., ended fiscal year 2010 with $7.15 billion in outstanding debt—reaching $9 billion with interest—which threatens to affect development projects and capital investments, according to the Washington Business Journal. Chief Financial Officer Natwar Gandhi told the district Council in February that the five-year capital plan must be cut by $40 million per year (about 5 percent of the plan)
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