Report: Radio One Pulls Out Of D.C. HQ Project
February 25, 2010 at 3:19 PM (PT)
The WASHINGTON BUSINESS JOURNAL is reporting that RADIO ONE has backed out of its plans to move into the Shaw neighborhood of WASHINGTON, DC from suburban LANHAM, MD. The company was ticketed to be the lead tenant in a new project, "Broadcast Center One," at the corner of 7th and S Streets NW, taking a large portion of the 103,000 square feet of office space in the building.
The original commitment was made in 2008 between the city and developers FOUR POINTS LLC, ELLIS DEVELOPMENT GROUP, and the JARVIS CO., with the city contributing $23 million in subsidies and the land, which is at the entrance to the Shaw-HOWARD UNIVERSITY Metro station.
JARVIS CO. head and CB RICHARD ELLIS Managing Partner ERNIE JARVIS told the JOURNAL that the project will continue without RADIO ONE, with the partnership now pursuing the UNITED NEGRO COLLEGE FUND, presently headquartered in FAIRFAX, VA, as anchor tenant.