Sunday, November 22, 2009
The Ballpark District
Since the recession hit The United States a few years ago, both Lehman Brothers and Corus Bank have fallen. It just so happens both were also major investors in The Ballpark District surrounding Nationals Park. The Huffington Post released this past Friday a well produced story describing The Ballpark District's languishing re-development prospects. Specifically, the story looks at The Half Street Project of Monument Realty--their 55 M Street, S.E. building now erected above the West Entrance to the Navy Yard Metro Station and the accompanying open pit that exists on the east of Half Street, S.E. as one exits the Metro Station and walks toward Center Field Gate at the ballpark.
Remember this snazzy video produced by Monument Realty to promote Half Street? (Use this link if the video below is cut off on your screen--blogger seems to have a problem with the placement)
Don't expect a whole lot more anytime soon, sadly. The economy is still lagging, commercial real estate is taking a big hit, and banks are nowhere close to lending out dollars as they were five years ago. A few more years are going to pass before The Ballpark District success can be reached. It took 10 years for the Chinatown area surrounding Verizon Center (originally called MCI) to totally take shape. Eight more years for South Capitol Street, Half Street, Potomac Avenue, 1st Street, M Street and N Street--all in S.E.--to catch up with Nationals Park--probably not out of the question either.