Washington D.C.
D.C. Heads EPA’s 2015 Energy Star Top Cities List
On Wednesday, March 25, the US Environmental Protection Agency released its 2015 list of top 25 US metropolitan areas with the most ENERGY STAR certified buildings. Washington, D.C., is number one on the list. The nation’s capital has managed to knock Los Angeles out of the top spot for the first time since 2009, when the program first started.
George Washington University Museum and Textile Museum Now Open in Foggy Bottom
An old Washington, D.C., museum is open to the public once more, in a new location and with a new name. The George Washington University Museum and The Textile Museum welcomed its first visitors last Saturday, March 21.
Executive Insight: Brian Kelley, Investcorp
Investcorp, a Bahrain-listed alternative investment fund, has recently expanded its U.S. residential portfolio with the acquisition of four properties in the metropolitan areas of Washington, D.C., Orlando, San Diego and Baltimore. The purchase price was approximately $300 million.
$114M Navy Federal Expansion to Bring 600 Jobs to Fairfax County
Governor Terry McAuliffe announced last week that Navy Federal Credit Union, one of the largest credit unions in the world, with more than 5 million members, will expand its headquarters campus in Fairfax County. The expansion project will cost $114.6 million and will result in the creation of 600 new jobs.
USG Breaks Ground on $20M, 700-Space Garage
The Universities at Shady Grove broke ground last week on the second parking garage at its Shady Grove campus. The project is expected to cost $20 million.
APAH Breaks Ground on Affordable Housing in Arlington
On Wednesday, March 11, the Arlington Partnership for Affordable Housing celebrated the groundbreaking for Arlington’s newest affordable housing community, The Springs Apartments. Housing professionals, local officials and other members of the community were present at the ceremony, held at 4300 N. Carlin Springs Road, close to The Springs site.
Developer Breaks Ground on 195-Room Hotel in D.C.’s Capitol Riverfront
Developers are looking to add another hotel to the Washington, D.C. metropolitan area. On March 10, Bethesda-based Englewood LLC announced the start of construction for the new Homewood Suites by Hilton in the District’s Capitol Riverfront neighborhood. The cost of the project was not disclosed.
AFIAA Buys Historic Building in D.C.’s Chinatown
AFIAA, a Zurich-based investment foundation of 35 Swiss pension funds, has recently expanded its D.C. portfolio of commercial properties, with the acquisition of a historic building in the heart of Chinatown. The property is called Arch Square. It traded for about $104 million.
Friedkin Realty Buys Bowie Apartment Community for $72M
Investors continue to raid the Washington, D.C. area for multifamily assets. The latest buyer to make its presence known in the region is the Friedkin Realty Group. This San Francisco-based real estate company has recently paid $71.8 million to buy the Meridian at Bowie, in Prince George’s County.
Bechtel to Relocate Frederick Operations to Fairfax County
Bechtel Corporation is expanding its presence in Fairfax County. The company plans to invest $10 million and relocate its Frederick, Maryland operation to Northern Virginia. Governor Terry McAuliffe made the announcement last week, also saying that the construction giant is bringing 700 jobs with it.