Goverment Leases Additional Space in the Pearl
Posted by Steve Johnson on February 23, 2010
Some would call it a benefit of the government stimulus program, others would call it another example of government waste. As a result of the renovation of the Edith Green-Wendal Wyatt federal office building, the government is leasing an additional 19,000 feet of class A office space. It’s one thing to spend $133M on a renovation that is more than the replacement cost for the whole building, it’s another thing to sign a long term lease for class A office space. The government leased the space for the Indian Health Services agency at the MachineWorks building, a Class A office space at 1414 N.W. Northrup St., in the Pearl District. Great for the owners of the building, a premium cost for the taxpayers.
kiwidutch said
Sounds like all bureaucrats the world over are related. At the very least they must share some strong genetic traits. Why can’t they sell it at a profit and plough the money back into the community, or at least use short(er) term leases if they need to wait until the market picks up?
Grrr, I’m thinking like you on this one. It’s a very expensive millstone around taxpayers necks.