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
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The seven-bedroom home hit the market on Friday and was under contract by Sunday.... read »
Loan recasting is a growing practice- so what is it?... read »
The 25-acre array will produce a quarter of the university's current annual energy co... read »
This year will likely go down as the year that prices for houses in DC reached new he... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
STAY DC provides rental aid and utility payment grants to at-risk District residents ... read »
The planned 8-unit development would be located on K Street right along the Potomac R... read »
Landmark Theatres is in the final stages of negotiations that would have it operating... read »
The 12,000 square foot replica of 1600 Pennsylvania Avenue went under contract last w... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro