"That enables us to start," says Brian Coulter, partner withJBG.
The agency, about five blocks away at 500 C St. SW, has signed a10-year lease to fill 310,000 sf of a 430,000-sf building inPotomac Center. In March 2003, it expects to move about 1,000workers into the new 12-story building, which will become itsheadquarters.
The developers expect to renovate and expand the existing BlueCross/Blue Shield building at Maryland Avenue and 12th Street SWinto a structure of 800,000 to 900,000 sf, although they could goas large as one million sf. Covering the entire block bounded bythose two streets and ramps to and from the Southwest Freeway andInterstate 395, it would be one of the largest privately ownedproperties in the city. The General Services Administration signedthe lease for FEMA, which will cost $31 per sf.
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