Hoagie House: The red building on the corner of 4th and N Street NW in Shaw that’s been vacant and boarded up as long as most people can remember. Finally, the top tax rate for blighted property taxes is kicking in, and the local Advisory Neighborhood Commission is supporting the owner’s bid for a break on the bills, figuring that’s the only way they’ll finally get it developed.
After buying the property for $620,000 back in 2004, ONE Ministries LLC wanted to renovate it for their K-12 after school programs. After getting plans approved, they couldn’t get financing to finish the job, letting the building languish. It was even a finalist for ABC’s Extreme Home Makeover, but the T.V. show wanted to do more to the building than historic preservation restrictions would allow. Now, they own ten percent of the building’s current value—-$1.026 million—-which is way beyond the reach of the faith-based non-profit to pay.
You might argue that the organization should just sell the building and make a $400,000 profit. But ANC 6C decided they were making a good faith effort to get it developed, and will support their appeal to the Office of Tax and Revenue for a six month break from the blighted rate, with an option to extend if there’s progress.
So in a year, maybe, we might see some movement.