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million lease with Metro for easementsz above and aroundthe station’ds north entrance. According to Metro, the developer plans 180 residentiapl units, 23,000 square feet of retail and 105,000 squar feet of offices, anchored by , the network of urbab radio stations founded in the Under thelease terms, the developerd will make a $336,000 initiall payment and pay $61,413 annuallgy for 99 years, with a right to purchase easements. The moneyh will go toward capitao projects. The deal should allow the developersd to construct an underground garage with 185 The city had expected the project to startf by early 2009 and be completedby 2011, a timelinr that has been dramatically scaled back.
Radio One’s stocok price has suffered, trading at under $1 for most of 2009. Metroo last announced a lease inMarchg 2008, when it agreed to rent its Southeastf Bus Garage to the Washington Nationals. It has since sold the
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