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Bad economy, credit woes doom development project next to Nationals Park

Development anchored by a ballpark is an increasingly difficult endeavor, something made clear yesterday when a tally was done by the Washington Times on the number of projects scrapped next to Nationals Park, the home of the Washington Nationals.Development anchored by a ballpark is an increasingly difficult endeavor, something made clear yesterday when a tally was done by the Washington Times on the number of projects scrapped next to Nationals Park, the  home of the Washington Nationals. The ballpark was solely funded with public money, and it was billed as an economic-development tool for a largely run-down area of the District of Columbia next to the Anacostia River. Some buildings, like some built by Lerner Enterprises — the owners of the Nats — remain empty, while several have been put on hold because developers cannot get financing without leases in place. That means several of the empty lots next to the ballpark will remain empty for the foreseeable future, and that means the D.C. Council’s grand plan for an entertainment/retail/office complex next to the ballpark will remain unfulfilled until the economy picks up. And, we’re guessing, opponents of public ballpark funding and financing will seize upon this as a cautionary tale.