200-Unit Rental Project Planned For Vacant Howard University Dorm on 16th Street

• February 3, 2016
• 3 Comments

by Nena Perry-Brown

2601 16th Street NW

Howard University’s Meridian Hill Hall was once prime real estate for undergrads looking to experience DC beyond Georgia Avenue. Now, the vacant dormitory at 2601 16th Street NW (map) will be redeveloped into prime real estate for DC renters.

Jair Lynch Real Estate Partners has entered into a 99-year ground lease with Howard University, and plans to turn the building into 200 rental units. The development team also includes MacFarlane Partners.

Jair Lynch competed to secure development rights to the property in September 2015; the deal became official in December. The eight-story building was originally erected in 1942 as a government-owned and -operated hotel to house young women who had travelled to work for the government during World War II. Howard University operated the property as a dormitory until 2013.

“Howard University owns assets that are underutilized or not being used at all, as was the case with Meridian Hill Hall, our University will be far better served by eliminating the maintenance costs associated with them and deriving significant financial benefits that can be reinvested back into the University and operations,” Anthony Freeman, vice president of real estate for Howard, said in a press release.

This article originally published at http://dc.urbanturf.com/articles/blog/meridian_hill_redevelopment_in_motion/10832

3 Comments

1. ed hodge said at 8:43 pm on Wednesday February 3, 2016:
   And so the end begins. I got an email from the president of HU saying the school was probably going to be selling off the airwaves the scool uses to broadcast its TV station. Sad to see a once great school so humbled by graft and mismanagement.

1. Steve D said at 1:32 pm on Thursday February 4, 2016:
   This was actually an excellent move. They received 22 million up front, got rid of the cost of maintenance, the burden/cost of redevelopment became the developers and they still retained ownership of the property. Howard continues to be great - it has had its share of mismanagement but this move is certainly not an example of it.

1. ed hodge said at 8:44 pm on Thursday February 4, 2016:
   This building was in decent shape and provided a positive cash flow to the university. The school is broke and trying to do everything possible to cut expenses and bring in cash. In the long term these moves will be detrimental to the University.