WASHINGTON, DC—The Shakespeare Theater Co. hasreached an agreement to acquire the former SoutheasternUniversity campus on I Street and plans to convert theproperty into an actors' campus.

Shakespeare Theater acquired the Southeastern Universitybuilding at 501 I St. in partnership with developerErkiletian Real Estate. The Alexandria, VA-basedcompany has developed apartments and condominiums in Alexandria andthe Discovery Communications headquarters in Silver Spring, MD,according to the Washington Post. Southeastern U. shut down thecampus in 2010.

“Since 2005, we have been exploring ways to create a permanenthome for the Company,” says Chris Jennings,managing director of The Shakespeare Theater. “Erkiletian'scommitment and knowledge of Washington, DC caters to our ambitionto create a community space for STC and DC theatre. Their constantsupport of the theatre reflects that they will be equally aspassionate about this project as we are.” See story in theWashington Post.