200-Unit Rental Project Planned For Vacant Howard University Dorm on 16th Street

• February 3rd 2016

by Nena Perry-Brown

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Howard University’s Meridian Hill Hall was once prime real estate for undergrads looking to experience DC beyond Georgia Avenue. Now, the vacant dormitory at 2601 16th Street NW (map) will be redeveloped into prime real estate for DC renters.

Jair Lynch Real Estate Partners has entered into a 99-year ground lease with Howard University, and plans to turn the building into 200 rental units. The development team also includes MacFarlane Partners.

Jair Lynch competed to secure development rights to the property in September 2015; the deal became official in December. The eight-story building was originally erected in 1942 as a government-owned and -operated hotel to house young women who had travelled to work for the government during World War II. Howard University operated the property as a dormitory until 2013.

“Howard University owns assets that are underutilized or not being used at all, as was the case with Meridian Hill Hall, our University will be far better served by eliminating the maintenance costs associated with them and deriving significant financial benefits that can be reinvested back into the University and operations,” Anthony Freeman, vice president of real estate for Howard, said in a press release.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/meridian_hill_redevelopment_in_motion/10832.