WASHINGTON, DC—The General Services Administration is seeking a well-heeled developer to build a new 2.1-million-square-foot headquarters for the FBI and take the law enforcement agency's current Hoover headquarters as compensation.

The GSA is currently considering sites for the new FBI headquarters at one of three sites, in Greenbelt, Landover or Springfield. The GSA owns the Springfield property and has signed deals that would allow it to purchase the Greenbelt or Landover locations between now and July 29, 2016.

“The J. Edgar Hoover building does not meet the FBI's needs in the 21st century,” states Bill Dowd, project executive for GSA's Public Building Service. “GSA is planning to exchange this building for the construction of a new headquarters that would give the FBI a facility worthy of its mission; allow for valuable redevelopment in the Penn Quarter community of downtown Washington; drive cost savings; and deliver on GSA's mission to shrink the federal footprint.”

Interested developers in the project have until Feb. 10 to submit information about their design ideas, project budget, security plans and approach to completing and managing the risks of the project, according to the Washington Post.

Among some of the GSA's requirements include developers having access to at least $1 billion in capital. The GSA notes that the developer “must include an entity or fund with a minimum of $1 billion in liquid assets not committed to other projects or have an in-place fund or credit facility with a minimum of $1 billion available.” In addition, the developer must have finished at least three office projects of at least 500,000 square feet each in the past five years. Its general contractor partner has the same requirement, including one project of at least 1 million square feet. See story in the Washington Post.