X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The repositioning of the District’s historic Old Post Office building at 1100 Pennsylvania Ave. gets underway with the US General Services Administration’s recent selection of AEW Capital Management to spearhead the project. Built in 1899, the 12-story building with a 315-ft-tall clock tower is currently home to both federal offices and retail space, and is open for commercial and residential use.

“We have the hands-on experience needed to develop realistic redevelopment guidelines, as well as the expertise to help GSA thoughtfully assess the proposals received,” explains AEW principal Richard Samson. “We also have extensive experience in the renovation and adaptive re-use of historic properties and a solid base of contacts with developers and other real estate firms that will be the source of innovative redevelopment ideas for this great building.”

The GSA has yet to attach a price tag to the project. A dismissed plan last year to convert the post office into a hotel would have demanded developers pay the government a $12.5 million upfront for leasing rights.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.