Monroe Street Market pays off for Brookland
Washington Business Journal
June 3, 2013
The 1 million-square-foot Monroe Street Market has yet to welcome its first tenant, but the project is already paying dividends to the community.
The District announced on Friday it would provide grants of up to $5,000 to businesses along 12th Street NE for storefront improvements (more information here), using money from a $25,000 contribution paid by the developers — Abdo Development, Bozzuto Development and Pritzker Realty.
That money was part of an extensive and expensive community benefits package negotiated in 2009 to secure support for a planned-unit development application.
The grants are meant to increase customer foot traffic and sales, stimulate private investment and “brand the Brookland commercial district as an attractive, safe shopping destination,” according to the Department of Small and Local Business Development’s notice of funding availability. Read more »