A look at what's going on in Trinidad, on H Street, and in the larger area north of Capitol Hill.
Friday, January 28, 2011
CP: Falling to Earth on H Street
The Washington City Paper touches on the disconnect between rents landlords want to get on H Street, and those businesses will pay.
12 comments:
oboe
said...
Can anyone explain to me why we don't impose the vacant property tax rate on properties that are vacant? Yes Property A has a "For Lease/For Sale" sign on it, and obviously we want to give property owners time to operate.
So why not give them, say, 12 months for every 5 year (or 10 year) period where their property can be vacant, and they're shielded from the punitive rate?
The community has a compelling interest in these spaces being utilized, and up to code. Give the owners time to do so, and if they're unwilling to do it, drop the hammer on them.
Right, but surely not all, right? Don't get me wrong, I'm with Zola on this one, but you wouldn't even need to make an exemption, given churches' ludicrous existing tax-free status.
BTW, shout-out to the various H Street churches that didn't bother shoveling their walks over the last couple of days--pillar of the community!
I tried to locate my business on H St. for 3 years before finally giving up. I have lived in the neighborhood for 7 years and love my little corner of the city.
As far back as 2005 landlords were demanding market rate rent for buildings that were essentially in ruins. It was incredibly frustrating. I made a reasonable offer on one particular space that remains vacant today. The owner balked at my offer (which was the same price per square foot as new space on 14th St.). Had he taken it, he'd have about $85,000 more in his pocket right now. Instead, I found a space in tip-top shape for below market rate rent in Georgetown of all places! I can't get over the balls-out greed of some of these property owners -- most of whom don't live in the neighborhood.
Let me echo Oboe about the churches that don't clear the sidewalk... especially that Maryland population based "radio services" church on the corner of 13th & H that allows their member to park up on the lawn and sidewalk. Grrrrrrr
12 comments:
Can anyone explain to me why we don't impose the vacant property tax rate on properties that are vacant? Yes Property A has a "For Lease/For Sale" sign on it, and obviously we want to give property owners time to operate.
So why not give them, say, 12 months for every 5 year (or 10 year) period where their property can be vacant, and they're shielded from the punitive rate?
The community has a compelling interest in these spaces being utilized, and up to code. Give the owners time to do so, and if they're unwilling to do it, drop the hammer on them.
Because many vacant properties in DC are owned by churches. The Council tried to up the vacant property tax on Shiloh owned properties in Ward 1. The result? Jack Evans proposed giving Shiloh a property tax break.
Right, but surely not all, right? Don't get me wrong, I'm with Zola on this one, but you wouldn't even need to make an exemption, given churches' ludicrous existing tax-free status.
BTW, shout-out to the various H Street churches that didn't bother shoveling their walks over the last couple of days--pillar of the community!
They're going to have to pony up something because of the budget shortfall
I tried to locate my business on H St. for 3 years before finally giving up. I have lived in the neighborhood for 7 years and love my little corner of the city.
As far back as 2005 landlords were demanding market rate rent for buildings that were essentially in ruins. It was incredibly frustrating. I made a reasonable offer on one particular space that remains vacant today. The owner balked at my offer (which was the same price per square foot as new space on 14th St.). Had he taken it, he'd have about $85,000 more in his pocket right now. Instead, I found a space in tip-top shape for below market rate rent in Georgetown of all places!
I can't get over the balls-out greed of some of these property owners -- most of whom don't live in the neighborhood.
Let me echo Oboe about the churches that don't clear the sidewalk... especially that Maryland population based "radio services" church on the corner of 13th & H that allows their member to park up on the lawn and sidewalk. Grrrrrrr
I can't get over the balls-out greed of some of these property owners -- most of whom don't live in the neighborhood.
Excellent point, you often hear stories about the plucky local business owner trying to get by in the face of rising property taxes.
But the vast majority of these speculators are people who've been depressing the neighborhood for decades--in active and passive ways.
The space that toyland is in may be for rent soon.
What is the asking rent (or sale price) on the Ohio Restaurant?
According to the article, the asking rent for the Ohio is $7,500/mo
That's absurd. That place will sit empty until the owners connect with reality.
@7:29
Or until the city starts putting teeth into and enforcing it's vacant property tax rates.
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