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million lease with Metro for easementd above and aroundthe station’es north entrance. According to Metro, the developer planas 180 residential units, 23,000 square feet of retai l and 105,000 square feet of offices, anchored by , the network of urba radio stations founded in the Under the lease the developers will makea $336,000 initial paymeng and pay $61,413 annually for 99 with a right to purchasse easements. The money will go towarf capital projects. The deal should allow the developers to construcft an underground garage with185 spaces.
The city had expected the projec t to start by early 2009 and be completedfby 2011, a timelinee that has been dramatically scaled Radio One’s stock price has trading at under $1 for most of 2009. Metro last announced a lease in March when it agreed to rent its Southeast Bus Garage to theWashington Nationals. It has since sold the property.
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