The General Services Administration (GSA) is selling a 940,000-square-foot office building in Washington, DC, to a housing developer for $24 million.
The Wall Street Journal reports Dalian Development plans to transform the vacant GSA Regional Office Building near L’Enfant Plaza into rental apartments, with a new children’s museum to be located on its ground floor.
“The entire thing needs to be gutted on the inside,” said Hossein Fateh, the company’s founder and CEO. “The building is so deep you need to put holes in the middle so the residential units will have windows on both sides.”
The sale marks a renewal of the Trump administration’s plans to sell underutilized federal properties. Last year, the GSA released a list of more than 400 federally owned buildings they planned to sell, only to abruptly withdraw the list amid criticism of a disorganized sales strategy.
The newly sold building is more than 50 years old. Fateh stated he would preserve the original murals within the building, adding it could take roughly five years to design and build his planned housing project. and has housed numerous federal agencies over the decades. Fateh said he is preserving the murals in the building.
Photo courtesy of GSA
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