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Shopping Center and Luxury Condos Slated for Fannie Mae’s Old Headquarters

by Nena Perry-Brown

Shopping Center and Luxury Condos Slated for Fannie Mae's Old Headquarters: Figure 1
The former Fannie Mae headquarters on Wisconsin Avenue.

Over two years ago, government-operated mortgage buyer Fannie Mae announced that it would sell its headquarters at 3900 Wisconsin Avenue NW (map) and move downtown. Now, we have an idea what the future holds for the old site.

The Nikkei Asian Review reports that Japanese developer Sekisui House plans to purchase and redevelop the roughly 430,000 square-foot property, restoring the 60-year old brick building to create a shopping center and constructing luxury condominiums on the surrounding land. Sekisui House is anticipated to pay $88 million to $176 million for the property, which is part of the company’s strategy to make investment inroads in the U.S. This past summer, the Washington Business Journal reported that Roadside Development had emerged as the buyer for the headquarters, and it appears that the DC-based firm will partner with Sekisui House on the development.

Fannie Mae will continue using the building on Wisconsin Avenue for the next 2-3 years while their future home in the old Washington Post headquarters is constructed.

UrbanTurf will continue to monitor this development as it moves forward.

See other articles related to: sekisui house, japan, foreign investors, fannie mae

This article originally published at https://dc.urbanturf.com/articles/blog/shopping_center_and_luxury_condos_slated_for_fannie_maes_old_headquarters/11932

3 Comments

  1. Nathaniel Martin said at 8:14 pm on Wednesday November 30, 2016:
    Why on Earth don't they tear down the cheesy phony Colonial building and put up something more appropriate? I wince every time I drive by the existing building. It looks like a discount college.
  1. Mike_in_SW said at 8:46 pm on Wednesday November 30, 2016:
    @Nathaniel - YIKES! I had just the opposite concern. I think it is a most appropriate design for the area. To each his own, eh? ;o)
  1. Fried Green Tomatoes said at 10:53 pm on Wednesday November 30, 2016:
    @Nathaniel - Maybe a discount college should be the tenant. :D

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