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Metro Puts Penn Quarter Headquarters Building on the Market for Ground Lease
A year ago, WMATA hinted at plans to sell its current headquarters as it sought a map amendment for the Penn Quarter parcel. Now, months after the map amendment was approved, the current headquarters site seems to be inching closer to redevelopment.
Today, Metro announced that the agency is offering its 1.1-acre headquarters site at 600 5th Street NW (map) for a 99-year ground lease to facilitate redevelopment. Since the map amendment, the site is zoned D-5-R, which would permit by-right residential (with inclusionary zoning), hotel, office or mixed-use development up to 120 feet tall (plus penthouse) on the site.
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"Maximizing the value of our downtown property is in the best interest of Metro, the District, our employees and our riders," Metro General Manager Paul J. Wiedefeld said in a statement. "While the Jackson Graham Building has been our home for more than 40 years, the revenue that will be generated by the redevelopment of this property is an investment in Metro's future."
Last fall, the agency announced plans to relocate headquarters to an office building in L'Enfant Plaza. WMATA is expected to vacate the current headquarters by December 2022.
This article originally published at https://dc.urbanturf.com/articles/blog/metro-puts-penn-quarter-headquarters-building-on-the-market/15210.
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