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Compromise Offered on Stadium Parking
"It's unimaginable to us that any contractor other than the previously selected prime contractor would be introduced into the schedule at this late date or that there's wisdom in adding a third-party guarantor," Kasten said.
Williams said that he approved the plan after the many weeks of negotiations.
  Mayor Anthony A. Williams, shown at a meeting last week, wants to maximize development. (By Mark Gong -- The Washington Post) |
"In all partnerships, someone has to make the decision," Williams said.
Among the condominiums, 140 would be priced below market value to make them affordable for lower-income residents, city officials said. A 180-room hotel also is planned for First and N streets SE. A source close to the project said developers were trying to lure the Aloft hotel chain, franchised by Starwood Hotels & Resorts Worldwide Inc.
An additional 300 parking spaces for the stadium would be built south of the ballpark near Potomac Avenue and South Capitol Street.
The stadium budget approved by the D.C. Council included $21 million for parking garages. Miller said that the total price of the new proposal would be at least $300 million and that his investors would finance the difference.
