No Walmart for DC- What'll Become of the Real Estate Values in the Areas Close By Prospective Sites
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Anonymous
| I'm disgusted that the city said no to Walmart. I'm sure there are plenty of people on here who will disagree. This is not a post about the good/bad of having Walmart come. For those who want that discussion, there's like two threads in the Political forum. I really am concerned about property values going down now since Walmart won't come. Walmart was slated to be an anchor, which would attract a lot of other stores, bringing much needed retail to EofP areas. We were so excited about this. The general consensus was that this uptick in retail would've increased property values. Not to mention just creating more areas that are nice to move to in the city. Now that's not going to happen. I've talked to a few people, but wondering what DCUM people think. If I had known Walmart wasn't coming I would not have bought my home. Seriously. Good, bad or ugly. |
Anonymous
| This is basically the same exact situation that happened in Chicago seven years ago. So perhaps you can do some research about what happened to those neighborhoods there after Walmart pulled out? |
Anonymous
You bought before it was a sure thing. You took a risk and you (may have) lost. Such is the nature of investments. I predict DCUM will have little pity for you. |
Anonymous
| The problem just isn't walmart it is that dc is setting up anti business rules against large businesses. This is going to have a ripple effect on other companies like costco, target etc. |
Anonymous
| I am concerned that the WalMart coming to GA avenue will lower my property value in the long run. I moved to the neighborhood with the hopes that it would "develop" much like 14th Street, H Street, etc. |
Anonymous
+1 Walmart doesn't typically draw any other retail. Not in their best interest. |
Anonymous
Costco is already paying its employees a living wage, because it is not run by disgusting, soul-sucking scumbags like Walmart is. Sorry, off-topic. |
Anonymous
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Um, please get your facts straight. DC didn't say "no" to Wal-mart, they simply had a condition that Wal-Mart wasn't willing to fulfill: a livable wage. For once, I am actually proud of the DC Council for doing the right thing. And, that is not a sentence I thought I ever would type!
I agree with PP 17:35--you took a risk before something was a sure thing. |
Anonymous
| DC did say no to Walmart. |
Anonymous
Thats bull shit |
Anonymous
From HuffPost yesterday: http://m.huffpost.com/us/entry/3575730?ncid=txtlnkushpmg00000029 "'Walmart’s wages really are a mystery," Schlademan said. "They’ve never revealed their methodology behind their wage numbers, other than to confirm that they don’t count hundreds of thousands of part-time and temporary associates in their averages, who make up a significant portion of their workforce.' With exceptions like Costco, wages are generally low throughout the retail industry, be it at Walmart, Target or mom-and-pop stores. According to the Bureau of Labor Statistics, retail sales workers earned on average around $11.35 an hour last year, with cashiers at $9.81. Workers within the industry are increasingly finding themselves on part-time schedules, as well. Last year, HuffPost published internal Walmart documents detailing the company's wage policies, showing the limited raises many workers see over time. A cart pusher who started out at $8 per hour, for instance, can expect to be earning about $10.60 per hour after six years and a promotion. The company told HuffPost last year that half of its hourly associates in the U.S. make less than $10 per hour." |
Anonymous
| WM was coming to the hoods. Prices will still suck. |
Anonymous
| OP is a dumbfuck. You bought a house because there was a Walmart being built? |
Anonymous
| I would think the presence of a Walmart would drag DOWN property values, not increase them? What am I missing? I know that hood is a food desert and all, but even so. |
Anonymous
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We're in Shepherd Park, north of the now possible Walmart and Walter Reed Development and bought because of the neighborhood, location, house, etc. Walmart was a negative (increased Georgia and Missouri traffic) and Walter Reed a positive, but we were not counting on either. WR is a long ways off and now Wegmans (a popular neighborhood choice for WR) is cutting the health care benefits for its part timers, so who knows how WR will develop.
I think the City Council did the right thing and only hope they drop the 75,000 square feet requirement which would include many of the big box stores. |