DC-based developer Akridge and its partner, Alcion Ventures, L.P., announced that it would transform the former YMCA National Capital building in Northwest DC into a 100,000-square-foot boutique office building. The YMCA of Metropolitan Washington announced last October that it had reached a deal to sell the property to Akridge and close the facility by December 31; neither party disclosed a sale price, but the building was assessed at $23.2 million. Construction is expected to begin early 2017 with a delivery by the summer of 2018.
"Akridge is proud to rejuvenate this prominent site," said Matt Klein, President of Akridge, in a press release. "After the tremendous success we experienced just across the street at 1200 Seventeenth Street, we are excited to deliver another best-in-class, efficient office building to this neighborhood in the Central Business District."
Akridge plans to completely replace the building's façade, infill gym and court floor slabs, and convert a swimming pool into two levels of parking. Hickok Cole Architects has been selected to design the building, rebranded as 1701 Rhode Island, to create a modern facility with a two-story lobby, landscaped rooftop terrace, and a fitness facility. The press release reports that the developer is hoping to achieve LEED Gold certification with the development.
For more news and information visit Blumberg Partners.
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