By: Staff Reports Thomson Finishes Selling Its U.S. Newspapers
The Freedom Forum said Tuesday it has offered $100 million to the District
of Columbia for a plot of land where the Newseum and foundation
headquarters would be relocated from Arlington, Va. The prominent plot is at
Pennsylvania Avenue and 6th Street N.W., near the Capitol.
D.C. Mayor Anthony Williams told The Washington Post that the
offer was 'extraordinary,' but said some legal issues must be resolved. The
Post reported that the land, which currently houses the D.C.
Department of Employment Services, has been assessed at $44 million.
The Freedom Forum's package includes $75 million in cash for the property
and a $25 million grant for the city to build affordable housing anywhere in
the District - if the offer is accepted by the end of the year. The
Newseum also said it would waive its right to exemption from property and
retail sales taxes. 'This action would ensure the District a continuing revenue
stream equal to or greater than the revenue that would be generated if the site
were developed for typical office use by law firms or associations,' the
Freedom Forum said in a statement.
The $250-million mixed-use development, located near the National Gallery
of Art, would include the foundation headquarters, a much larger Newseum,
street-level retail space, and about 100 condominiums. A prominent architect
will be chosen to design the building.
Since opening three years ago in suburban Washington, the Newseum has
hosted over 1.5 million visitors. Foundation officials believe an expanded
location near other museums on the Mall will bring even more visitors.
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Staff Reports
(c) Copyright 2000, Editor & Publisher
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