$122M Mega-Complex Approved for Mt. Vernon Square

The Board of Zoning Adjustment (BZA) unanimously approved Douglas Development's proposed project on 655 New York Avenue NW for a 756,000-square-foot mixed-use project. The $122.5 million development will feature an 11-story mega-complex with 678,000-square-feet of office space and 79,000-square-feet of retail space. The development will be combined with 15 historic properties built in the early 20th century. Washington Business Journal reported that in Feburary 2013 the developer's plans for the project were to construct a 430,000-square-foot mixed-use project, but after paying more than $73 million since 2001 for nearly 40 lots, the developer was able to acquire 2.23 acres of land and expand their plans for something bigger and better.

The healthcare and education consulting company, The Advisory Board Co. (ABC), signed on to occupy roughly 500,000-square-feet of the Mt. Vernon Square development. According to BisNow, the ABC currently leases roughly 300,000-square-feet of space in West End at 2445 M Street NW and 1227 25th Street NW with leases expiring in 2017 and 2019, respectively.

Below, you can see a one-minute time-lapse video of the 880-ton building at 655 New York Avenue NW that was moved 34 feet east in April of 2015. This four-day move marked Washington, D.C.'s biggest home move ever.

· 655 New York Avenue [Douglas Development]
· $73M later, Douglas' patience pays off with a 'mega-complex' in Mount Vernon Square [Washington Business Journal]
· Breaking: The Advisory Board Chooses DC, Douglas Development [BisNow]
· Video: D.C.'s Biggest House Move Condensed into One Minute [Curbed DC]