- The Washington Times - Monday, April 8, 2002

Elinor Bacon resigned from the National Capital Revitalization Corp. Friday, about one year after the organization began an ambitious plan to revive the city's oldest neighborhoods.
The corporation is a government-chartered organization charged with assisting the District with its economic development. It replaced the city Redevelopment Land Agency in 2000.
Miss Bacon could not be reached for comment. In a press release, she did not state her reason for leaving.
"I am proud of our accomplishments of the past year and of the staff that we have assembled to implement NCRC's critical mission. I wish the board and staff the very best as they carry out their important work," she said in the statement.
City government spokesmen and sources close to Miss Bacon denied reports she was frustrated because the District did not give the corporation enough power to implement its economic development programs.
"We are not familiar with those suggestions. That is not something we are aware of, nor is it something that exists," says Tony Bullock, a spokesman for Mayor Anthony A. Williams, a Democrat.
Miss Bacon, a deputy assistant secretary for the U.S. Department of Housing and Urban Development during the Clinton administration, became the corporation's first chief executive in January 2001.
During her tenure, the corporation arranged the sale of the long-vacant National Wax Museum site in downtown Washington to a private developer who is planning a major housing-and-residential project.
The corporation also acquired the Gangplank Marina along the Southwest waterfront and developed a plan for the revitalization of the long-neglected area.
The group is also preparing a redevelopment plan for Columbia Heights.
Miss Bacon's greatest accomplishment was getting the corporation off the ground, says Rod Heller III, its chairman.
"I know how hard it is to get a start-up business off the ground. Elinor got us started. She hired the staff, she set up the office. She did a great job," says Hr. Heller, a former partner at the Wilmer, Cutler and Pickering law firm.
An interim replacement for Miss Bacon will be named soon, Mr. Heller says. Miss Bacon will help the board during a 30-day transitionary period, he says.
Miss Bacon's depature is part of a bigger problem in city government, says Terry Lynch, executive director of the Downtown Cluster of Congregations, a church-backed group that pushes for redevelopment in the city's poorest neighborhoods.
"There is no coherent plan for economic development in the city. The players keep changing. The faces keep changing," Mr. Lynch says.

Complex nears capacity
Whiskey Bottom Trade Center, a 180,000-square-foot warehouse-and-office complex in North Laurel, is more than 90 percent leased, less than one year after completion.
Gingery Development, the Rockville company that built the center, recently announced 40,000 square feet in new leases, including Lockwood Signs, which already occupied 20,000 square feet in the center and took an additional 17,000 square feet.
Other new leases include Business Flooring, a commercial carpeting company that took 11,597 square feet, and Ritz Camera and Putting on the Ritz Catering, which each took more than 5,300 square feet.
Last year, Dynamic Design Enterprises, a clothing manufacturer, leased 17,000 square feet.
Roughly 21,000 square feet remains in the complex.
Gingery began planning and developing the complex at 9105 Whiskey Bottom Road in the late 1980s. The project, which features buildings that can be used for offices, warehouses or manufacturing, has helped revitalize the Route 1 corridor, according to Howard County officials.

In other news
IBM has signed a 10-year lease for 100,000 square feet at a six-story office building owned by Principal Capital Management on Sunset Hills Road in Res-ton. The company plans to move 400 workers into the space by the end of the year. Brokerages Manekin and Trammell Crow arranged the lease.
Crow Holdings Real Estate Fund has purchased Greenbriar Town Center in Chantilly from a pension fund for $61.8 million. Greenbriar is a 345,968-square-foot shopping center with a Giant Food, CVS and Ross Dress for Less. Brokerage Insignia/ESG arranged the sale.
Cardinal Capital Partners Inc. has sold the 28,000-square-foot CompUSA building at 5901 Stevenson Ave. in Alexandria to an unnamed investor for $4.78 million. Brokerage Grubb & Ellis arranged the sale.
Tren Properties has sold a 10,885-square-foot retail building at 13871 Hedgewood Drive in Woodbridge to Saga LLC for $2.1 million. Brokerage Grubb & Ellis arranged the sale.
Axcelis Technologies has renewed its lease for 83,552 square feet at Metro Park North, a 17-building complex at 7600 Standish Place in Rockville. Axcelis has been a tenant in the park for 14 years. It has committed to stay for an additional five years. PS Business Parks owns Metro Park North. Brokerage Insignia/ESG arranged the lease renewal.
Falls Church-based defense contractor General Dynamics will renew its lease for 60,000 square feet at 15000 Conference Drive in Chantilly. Brokerage Transwestern arranged the renewal.

Property Lines is published every other Monday. Chris Baker can be reached at 202/636-3139 or [email protected]


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