Washington, DC (STL.News) Mayor Muriel Bowser announced Tax Increment financing (TIF) funds – totaling over $50 million – and broke ground at the new Northeast Heights, located at the Minnesota Avenue, NE and Benning Road, NE corridor in Ward 7. Northeast Heights is designed as a destination location to include mixed-use development consisting of new and reimagined retail, dining, and residential spaces. A primary anchor of the development is the relocation of the Department of General Services (DGS) headquarters, to be located at 3924 Minnesota Avenue, NE. Mayor Bowser was joined by Ward 7 Councilmember Vincent C. Gray, representatives from Cedar Realty Trust, the Goldman Sachs Urban Investment Group, Asland Capital Partners, Administration officials and members of the community.
“With this project, we’re using all of the tools in our toolbox – our DC Government leasing power, over $50 million in TIF funds, and we’re in an Opportunity Zone,” said Mayor Bowser. “With an assist from DGS, this development will bring new opportunities, new jobs, and new amenities to the residents of Ward 7. We look forward to when the construction is done and when we can cut a ribbon to what will be a remarkable asset to the community.”
Northeast Heights is part of the Mayor’s East of the River leasing strategy that includes using District government buildings as a catalyst for economic growth in communities currently experiencing underinvestment and needing retail, including grocery stores.