K Street Heating Plant for Sale
According to a press release issued by the White House Office for Management and Budget on Oct. 20, the Georgetown West Heating Plant is being put up for sale. The sale is a part of President Obamas campaign to cut waste, lead by Vice President Joe Biden.
The Heating Plant located at the northeast corner of 29th and K Streets was designed by architect W.M. Dewey Foster and built from 1946 to 1948. According to the GSA, the plant “generates and supplies fuel to the western group of Federal buildings.” For the last 10 years, the plant has been out of use. The government has kept the property as a security back-up to be used if an emergency occurs, but are now ready to let it go, and as of today it is labeled “excess.” Numbers from the press release show that the plant has been costing the taxpayers $3.5 million in maintenance costs over the last decade, even though it has not been used. Similar cuts leading to sales of federal buildings are being made all across America.
The big question now is who will buy this property. Georgetown real estate agents and developers told the Washington Post’s Ed O’Keefe and John O’Sullivan that the building would be an ideal investment due to, among other things, its prime location. According to Georgetown Metropolitan, the building’s art deco design has triggered discussions on whether or not one should tear down the building. They say that while some appreciate the building’s design, others would rather see the building go and the property turned into a park. Developers say that either way, the development of the property will be extensive, whether it will house condos, a park, a museum, retail or anything else.