After scoring final approval from the D.C. Council to redevelop the RFK Stadium campus and return the Washington Commanders to D.C., Mayor Muriel Bowser is returning to her growth agenda.
“It is true that we have a lot of great things happening in the District, and somehow we have to continue to beat back this notion that we’re not good for business, because, in fact, we are good for business,” Bowser said. “So we want to make sure that our laws match our intense focus on being a great place to do business.”
… being bullish on multifamily projects in the D.C. area today means jumping headfirst into the most active segment of development: office-to-residential conversions. As momentum builds behind these projects, the market for financing them has become extremely competitive.
“We’re aggressively pursuing all of the deals that we like, and because of the abatement and other factors, a lot of those deals are conversions,” Kennedy Wilson Managing Director Craig Lockard, who is based in D.C. and works on loan originations across the eastern half of the U.S. ….
Five D.C.-area colleges once again landed in the top 100 of U.S. News & World Report’s annual ranking of the nation’s best colleges and universities, with Georgetown University retaining its status as the top-ranked university in the region.
Two others, Gallaudet University in D.C. and Marymount University in Arlington, were among the biggest movers, with each posting double-digit gains in the highly anticipated ranking released early Tuesday.
Joining Georgetown in the top 100, for the second consecutive year, were the University of Maryland, George Washington University, American University and Howard University.
Documents filed with the D.C. Recorder of Deeds on Tuesday show the International Bank for Reconstruction and Development, which has the same primary address as the World Bank’s D.C. headquarters, acquired the land underneath the building at 701 18th St. NW for $165M.
The World Bank owns its headquarters across the street at 1818 H St. NW. It purchased its 265K SF G Building at 1776 G St. NW in 2019 for $129.5M.
Seven Starling, a D.C. health startup founded by a trio of Harvard Business School classmates in 2020, has raised its third round of funding, a notable haul during what has been a challenging fundraising climate for local startups outside of those in the defense technology industry.
A new agreement with French energy company Orano SA is allowing D.C. startup Zeno Power to secure a steady supply of fuel for its nuclear-powered batteries.
The company maintains a dual headquarters in D.C. and Seattle, employing over 75 people across the two offices.
As Greater Washington real estate contends with continued high interest rates, uncertainty around the federal government and other challenges, the general trend is one of pressing forward, not of throwing in the towel.
There are numerous big projects on the boards — in various stages of planning and development — that are worth your attention.