D.C. developers paid very little for high-priced property, report says
A pair of development companies paid just $88 for more than $17 million worth of property in the District of Columbia over the past five years, WAMU 88.5 reports.
The deals with Blue Skye Construction and Donatelli Development totaled as much as 25 percent of the deals in D.C. over that span, and as WAMU's Patrick Madden reports, many are crying foul because the companies getting these deals "donated handsomely" to local campaigns.
WAMU's look into the deals revealed that out 20 land deals scrutinized, the five development firms that donated the most to campaigns in the District also won the top five land deals.
Developers who commented to WAMU denied that there's any sort of connection between campaign contributions and the pennies-on-the-dollar transactions.
READ MORE at wamu.org.
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