Home | Newsletter | Advertise
loading...

Metro Puts Penn Quarter Headquarters Building on the Market for Ground Lease

  • April 2nd 2019

by Nena Perry-Brown

✉️ Want to forward this article? Click here.

Rendering of potential WMATA headquarters redevelopment, via Perkins + Will. Click to enlarge.

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.

Rendering of potential WMATA headquarters redevelopment. Click to enlarge.

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.

As Metro Looks to Sell DC Headquarters, A Zoning Change for More Residential is Requested: Figure 1
WMATA headquarters. Click to enlarge.

"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.

See other articles related to: metro, wmata

This article originally published at https://dc.urbanturf.com/articles/blog/metro-puts-penn-quarter-headquarters-building-on-the-market/15210.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse