The federal government’s plan to shrink its footprint could create a new neighborhood between the National Mall and the Wharf.
The federal Public Buildings Reform Board is eyeing 20-plus properties in the DMV to consolidate or let go, the Washington Post reported.
“This is truly an unprecedented opportunity to save taxpayer dollars, to improve the federal government’s mission and to greatly improve the economic prospects of the District of Columbia,” board member Dan Mathews, a Biden appointee to the buildings reform board, said at a meeting last week.
BXP Inc. is assembling another trophy office redevelopment in D.C. to meet the high demand for premium space among top law firms.
“The D.C. team continues to field inbound requests from law firms that want us to identify sites and develop new projects,” he said.
In the last 18 months, BXP has cornered the market on trophy redevelopments, starting with 725 12th St. NW, the only office currently under construction in D.C. BXP is building a 320,000-square-foot office to replace the 12-story, 302,000-square-foot office that long stood in its place. The building is 87% pre-leased. McDermott Will & Schulte have leased 150,000 square feet, while Cooley is leasing 126,000 square feet.
International law firm Simpson Thacher & Bartlett LLP appears to be in talks to lease a historic property near the White House, in what could become the District’s largest private sector lease so far this year.
The New York City-based firm is “at lease” for 200K SF at 1445 New York Ave. NW, according to an earlier copy of Stream Realty’s second-quarter report shared with Bisnow.
The renovation plans at the property, revealed in filings with the U.S. Commission of Fine Arts last month, include adding a rooftop amenity space and habitable penthouse, undertaking a partial glass facade replacement, modifying the entryway and creating a new atrium.
From the Maryland line down to the edge of downtown, a mix of office conversions, infill apartment buildings, and pending zoning changes are poised to reshape portions of Connecticut Avenue.
Post Brothers’ conversion of the Universal Buildings at 1825 and 1875 Connecticut Avenue NW … broke ground in January as the largest office-to-residential conversion in DC history. The 604,000-square-foot property will become a 15-story, LEED-certified building with 532 homes (60 affordable) and 57,000 square feet of ground-floor commercial space.
Right at the corridor’s southern end, Stonebridge and The Bernstein Companies plan to raze the office building at 1990 K Street NW and construct a 435-unit residential building with 17,000 square feet of ground-floor retail, designed by Design Collective — one of the larger new-construction (rather than conversion) projects planned for downtown.