GM had been hearing rumors that the agreement between Roadside Development and the Neam’s family to purchase the old market building at P and Wisconsin was off. Yesterday, Carol Joynt confirmed:
Carol informed GM that the family found a new buyer and that the deal was done, although she did not know the identity of the buyer or its plans for the property.
She added this heartbreaking bit too:
Apparently Wagshall’s was in negotiations with the Neam’s family all along. And after the deal with Roadside fell through, the family considered going back to Wagshall’s, but the timing was off. Ultimately the family decided to take the new deal instead. It was apparently a tough decision.
What now will happen is a mystery. GM estimated that Roadside could build a new residential building on the parking lot and save the old building for a market (similar to what the developer is doing with Frager’s on Capitol Hill). That’s still a possibility, but the uncertainly leads GM to theorize the worst possible outcome: a bank.