WASHINGTON, DC-A groundbreaking for the $220-milion Skyland Town Center to be anchored by Walmart is expected to take place next July.
Rappaport Cos. CEO Gary Rappaport, point person for the joint venture Skyland Holdings LLC, informed the DC Council earlier this week that the remaining two tenants at the existing Skyland Shopping Center will relocate by the end of November, according to the Washington Business Journal.
The DC council is considering selling the Skyland property to the joint venture of Rappaport and WC Smith for $700,000. The bill before the council also calls for the reauthorization of $40 million in tax increment financing for the project.
The district purchased the Skyland property via eminent domain for $30 million and has spent $9.5 million to relocate its tenants. See story in the Washington Business Journal.
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