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Real Estate & Property News
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Turning to Trump for D.C’s Old P.O.
WASHINGTON, D.C.—The U.S. General Services Administration (GSA) has selected the Trump Organization as the preferred team to redevelop the Old Post Office building and annex located in downtown Washington, D.C.
Selecting the Trump Organization to redevelop this historic property represents a significant step in turning this underused Federal property into a mixed-use development that will serve the DC community and save money for the federal government.
The Old Post Office is located at the corner of 12th Street and Pennsylvania Avenue in the Federal Triangle neighborhood. Recognizing that the building had outlived its usefulness as federal office space, Congress directed GSA in 2008 to enter into a long term lease for the Old Post Office under Section 111 of the National Historic Preservation Act, thereby guaranteeing the restoration and retention of all of its historic features while allowing the private sector to determine how to develop it to its fullest potential.
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Smithsonian gives $175 million for Facilities Capital
WASHINGTON, D.C.—The Smithsonian’s FY 2012 federal appropriation totals $811.5 million. It is $52 million above the FY 2011 appropriation.
The new budget includes $636.5 million for salaries and expenses and $175 million for facilities capital, which includes $75 million for construction of the National Museum of African American History and Culture. All of the above accounts will be reduced by .16 percent, according to the bill that applies to the Smithsonian.
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Chicago schools have extra space
CHICAGO—According to recent analysis of Chicago Public School (CPS) usage, fully 50% of schools in the district are currently underutilized.
Included in these reports is a new formula to determine how each school is using its available classrooms and whether the school is considered efficient, underutilized, or overcrowded. The new formula considers elementary schools to be at optimum efficiency when using roughly 77 percent of its classrooms for general education homerooms, with 30 students per homeroom. |
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HUD commits to hospital in Montana
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WASHINGTON, D.C.—The U.S. Department of Housing and Urban Development (HUD) has announced a commitment to insure a mortgage loan to the Stillwater Hospital Association in Columbus, Montana.
The $14.3 million loan is made possible through the Federal Housing Administration’s (FHA) Section 242 Hospital Mortgage Insurance Program. The FHA-insured mortgage loan will be used to construct an entirely new facility with a new emergency room, inpatient and outpatient surgery areas, laboratory, imaging department, a primary care clinic, and a home health agency. |
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Connecticut breaks ground on interchange
NEW HAVEN, Conn.—The State of Connecticut has broken ground on the I-95/I-91/Route 34 Interchange, the last major phase of the I-95 New Haven Harbor Crossing Corridor Improvement Program.
The I-95/I-91/Route 34 project consists of rebuilding the interchange to accommodate the 10-lane Pearl Harbor Memorial Bridge, or Q Bridge, currently under construction. The bridge will be the first in the United States combining the characteristics of two different types of bridges. It will combine the characteristics of the concrete box girder bridge (concrete beams in the shape of a box as support) and the cable-stayed bridge (cables attached to piers as support).
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Green goes gold
WASHINGTON, D.C.—The Navy and Marine Corps will aim for LEED Gold certification for all new buildings beginning in 2013.
According to Secretary Mabus, by fiscal 2013 the Navy will require every new building to earn LEED certification without increasing the department's budget. "It shouldn't cost any more, particularly in this economic environment, to build buildings that are sustainable," Mabus said. "But it's going to require some creative contracting, some creative building and construction practices."
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