Thursday, November 15, 2007

MacFarlane Never Stood A Chance for Poplar Point

As of last Thursday, the city received seven proposals for Poplar Point, two of which had DC United in mind (see Poplar Point RFEI Draws Seven Proposals).

This morning I had the privilege of attending Marcus & Millichap's annual Investor Symosium where, surprisingly, both the Deputy Mayor for Planning and Economic Development, Neil Albert, and a Principal for MacFarlane Partners, Bradford Dockser, were panelists, and I had the opportunity to ask, first hand, what the future held for the team and why the team did not submit a bid for Poplar Point. Originally I thought it was the pride of MacFarlane in response to the actions that were taken by Fenty against the team, however Brad's response to me was actually much clearer than originally thought. The simple fact was that in order to submit a bid, you must be a developer. MacFarlane Partners is not (however, JBG is, and MacFarlane just acquired 50% of JBG's portfolio. The acquisition could have provided a substantial option for the team but wasn't utilized).

Additionally, after meeting with Brad, I approached Neil and posed the same question about the site regarding the proposals that were submitted. His response was that they are reviewing four of the seven in serious consideration for the project and that two of the four did incorporate DC United as the main attraction for the site.

Only time will tell where DC United chooses as their new site. In my opinion, DC Government would be ridiculous not to choose to incorporate the team at the new site, risking not only losing a main attraction to the city but upwards of hundreds of million dollars in tax revenue from the ticket sales of the team itself.

1 comment:

Stan said...

Thanks for that view on the situation. DC United fans are anxiously awaiting news and consuming these nuggets! :-)