The Area’s Top Commercial Developers Showed Up for West Heating Plant Meeting

A who’s who of Washington commercial development companies
showed up Thursday morning
when the General Services Administration held a planned
“industry” meeting to focus
on the upcoming auction of the ten-story West Heating Plant in
Georgetown.

It was decommissioned more than a decade ago and is considered
“surplus” federal property.
Anyone who plans to bid on the two-acre site, the last parcel
of real estate of its
size in Georgetown, has to make an initial $500,000 deposit.
The winning bidder will
also have to comply with myriad historic preservation, city
zoning, and environmental
regulations, as well as pass muster with groups that represent
Georgetown residents.

Here’s a list of the Washington-area development and architectural companies that
reportedly had a representative at the meeting at GSA headquarters, which was also
open to the public: EastBanc, Hines, Akridge, Property Group Partners, MRP Realty,
Toll Brothers, Clark Realty, Level 2 Development, Metropolitan Partnership, Carr Hospitality,
Gables Residential and Roadside Development, Shalom Baranes Associates, AECOM and
Hickok Cole Architects.

One of the interested developers said he feels the property is worth in the $20 million range, but that the overall development project will cost approximately $100 million. The GSA is in the process of completing an appraisal of the property. 

GSA says the online auction will happen in the first week of November.