What's Hot: Raze Application Filed For Site Of 900-Unit Development, Food Hall Along Anacostia River
Metro Puts Penn Quarter Headquarters Building on the Market for Ground Lease
✉️ Want to forward this article? Click here.
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.
story continues below
loading...story continues above
"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.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
The most expensive home to sell in the DC region in years closed on Halloween for an ... read »
Paradigm Development Company has plans in the works to build a 12-story, 110-unit con... read »
The application may signal movement on the massive mixed-use project.... read »
- What Are Estate Taxes and How Do They Work?
- How An Unmarried Couple Buys a Home Together
- The Cliffs in McLean Sells For $25.5 Million, Highest Home Sale In DC Area In Years
- 110-Unit Condo Project Planned in Alexandria Coming Into Focus
- Raze Application Filed For Site Of 900-Unit Development, Food Hall Along Anacostia River
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. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro