In early 2017, Howard University requested proposals for two of its dormitory buildings with the hope to capitalize on its real estate holdings to fund campus projects. WTOP reported that the plans for the 75-year-old properties have now been finalized. Carver Hall and Lucy Diggs Slowe Hall will be redeveloped into 162 market-rate apartments.
The residential units will vary from studios to one- and two-bedrooms with amenities like a fitness center, resident lounge, and up to 50 parking spaces.
Carver Hall is located at 211 Elm Street NW, while Lucy Diggs Slowe Hall is located at 1919 3rd Street NW. Both have been vacant since 2012. The redevelopment will cost $50 million and is expected to begin in early 2018.
For the project, Howard University has teamed with Urban Investment Partners and Neighborhood Development Corp. According to Washington Business Journal, the developers plan on offering scholarships and internships to students at Howard University as part of the agreement.
In a statement, Howard University President Wayne A. I. Frederick said, “The strategy to diversify and improve university revenue streams is being furthered by innovative transactions such as these. They will deliver capital to fund other campus modernization initiatives such as a new undergraduate library, renovated program space for the School of Nursing and Allied Health, and the necessary pre-planning work for a new building for the School of Communications.”
• Developers to convert two Howard dorms to apartments [Washington Business Journal]