Comments on: Corner of 9th & H St To Become A… Citibank http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/ Downtown Washington DC/Penn Quarter news and urban commentary Wed, 08 Feb 2012 19:04:21 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Smith MBA http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/comment-page-1/#comment-11738 Smith MBA Tue, 19 Aug 2008 01:21:15 +0000 http://pqliving.com/?p=1889#comment-11738 Don't worry. When Citi goes under and takes out the global economy we will be happy to have a bank that serves the neighborhood. What are they doing opening new retail branches? Don’t worry. When Citi goes under and takes out the global economy we will be happy to have a bank that serves the neighborhood.

What are they doing opening new retail branches?

]]> By: Ben http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/comment-page-1/#comment-11727 Ben Mon, 18 Aug 2008 18:00:44 +0000 http://pqliving.com/?p=1889#comment-11727 "its too busy for retail or restaurants." ???? And the 7th/H St. intersection is not? “its too busy for retail or restaurants.”

????

And the 7th/H St. intersection is not?

]]> By: Freddie Mick http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/comment-page-1/#comment-11722 Freddie Mick Mon, 18 Aug 2008 17:05:59 +0000 http://pqliving.com/?p=1889#comment-11722 Si, absolutely correct. Developers hold out for the "big score", & there's no vacant property tax to spur them - & to compensate the city for years & years of no sales taxes from "retail shops" that aren't there b/c the developers hope to land a big fish. The "market" isn't working b/c the city doesn't do its share & demand the missing sales tax in the form of a vacant property tax. How much is 5.85% [or whatever it is] of the projected / average sales for a given spot? Prepared food & alcohol taxes are even higher, 10%? If sales were $1 million, lost taxes would be $58,500 or $100,000 per year. There's the money the city is losing. This leaves out, of course, the aesthetics of blocks of vacant store fronts. I know it's not as bad as it used to be, but it's still bad. Si, absolutely correct. Developers hold out for the “big score”, & there’s no vacant property tax to spur them – & to compensate the city for years & years of no sales taxes from “retail shops” that aren’t there b/c the developers hope to land a big fish.
The “market” isn’t working b/c the city doesn’t do its share & demand the missing sales tax in the form of a vacant property tax. How much is 5.85% [or whatever it is] of the projected / average sales for a given spot? Prepared food & alcohol taxes are even higher, 10%? If sales were $1 million, lost taxes would be $58,500 or $100,000 per year. There’s the money the city is losing.
This leaves out, of course, the aesthetics of blocks of vacant store fronts. I know it’s not as bad as it used to be, but it’s still bad.

]]> By: Anonymous http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/comment-page-1/#comment-11719 Anonymous Mon, 18 Aug 2008 16:44:19 +0000 http://pqliving.com/?p=1889#comment-11719 Who cares? There is nothing interesting at the corner of 9th & H st. anyways, its an intersection with commercial office space, its too busy for retail or restaurants. Who cares? There is nothing interesting at the corner of 9th & H st. anyways, its an intersection with commercial office space, its too busy for retail or restaurants.

]]> By: Si Kailian http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/comment-page-1/#comment-11705 Si Kailian Mon, 18 Aug 2008 14:15:14 +0000 http://pqliving.com/?p=1889#comment-11705 developers may be working hard to attract good retail tenants but they are holding out for sky high rents. of course they pay no vacant property taxes while we stare at empty storefronts. developers may be working hard to attract good retail tenants but they are holding out for sky high rents. of course they pay no vacant property taxes while we stare at empty storefronts.

]]> By: Ben http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/comment-page-1/#comment-11703 Ben Mon, 18 Aug 2008 14:08:28 +0000 http://pqliving.com/?p=1889#comment-11703 "What is wrong with banks?" I think the problem most people have with bank branch offices is that they don't keep evening retail hours, thus after 5 PM or so there's essentially a void of retail traffic. No one is complaining about convenient ATMs, but having your most prominent retail locations populated by entities that close up shop before the office workers head out doesn't exactly contribute towards a thriving retail sector. In PQ, it's less of an issue due to the onslaught of development occuring along most blocks in the neighborhood, but I can understand why the announcement of a bank at 9th and H would elicit mainly yawns. “What is wrong with banks?”

I think the problem most people have with bank branch offices is that they don’t keep evening retail hours, thus after 5 PM or so there’s essentially a void of retail traffic. No one is complaining about convenient ATMs, but having your most prominent retail locations populated by entities that close up shop before the office workers head out doesn’t exactly contribute towards a thriving retail sector. In PQ, it’s less of an issue due to the onslaught of development occuring along most blocks in the neighborhood, but I can understand why the announcement of a bank at 9th and H would elicit mainly yawns.

]]> By: massysett http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/comment-page-1/#comment-11700 massysett Mon, 18 Aug 2008 13:28:32 +0000 http://pqliving.com/?p=1889#comment-11700 I remember a Washington Post article with people complaining about banks. What is wrong with banks? They provide a needed service. I like convenient ATM machines. I remember a Washington Post article with people complaining about banks. What is wrong with banks? They provide a needed service. I like convenient ATM machines.

]]> By: rr 446 http://pqliving.com/corner-of-9th-h-st-to-become-a-citibank/comment-page-1/#comment-11694 rr 446 Mon, 18 Aug 2008 12:13:16 +0000 http://pqliving.com/?p=1889#comment-11694 fat chance. more ATM tourist feeders on the way. fat chance. more ATM tourist feeders on the way.

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