Reply to Wizards and Caps could be moving to Potomac Yard

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Reply to "Wizards and Caps could be moving to Potomac Yard"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Bowser has unleashed the pit bulls:

[twitter]https://twitter.com/MayorBowser/status/1756716442681012358?s=20[/twitter][/quote]

And Bowser’s DC government is so good at enforcement….

:lol:  :lol:  :lol: [/quote]

DC government is very good at real estate and extracting tax revenues from land owners/lessees. I'm pretty amazed at the level of development over the last 15 years - that's all been due to the DC government and private sector working together.

Ted is trying to pull one over on DC. It's not going to work. He's paying a sweetheart rent of only $900K per year to DC for the land under the arena. He's hemmed in by his lease, which flips to market rate in 2027. That's why he wants to pay back the bond and get out of CapitalOne arena.

Ted knows he's f#cked in 2027 when the ground lease re-opens and the District is going to demand a huge hike in rents. What we are seeing playout in real time is a haggling between tenant (Ted) and the landlord (DC government). [/quote]

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