Apartment Buildings Could Be Forced To Join Downtown DC BID
Since the Downtown DC BID's inception 20 years ago, apartment buildings have not been forced to join, but that could be about to change.
A DC Council bill introduced by Councilman Jack Evans (snapped above at a 2015 Bisnow event)—who represents Downtown DC—would levy an assessment on apartment buildings while giving condo associations the option to join, the Washington Business Journal reports.
The proposal reflects the changing nature of Downtown DC. The area is now home to 6,500 residential units, compared to 1,200 when the BID was formed. If all condo associations chose to join, the move could generate an additional $780k annually for the BID, which is already the city's largest and oldest BID.
The Capitol Riverfront, NoMa and Mount Vernon Triangle BIDs already have the power to charge multifamily properties. [WBJ]
