Blackstone, Starwood among real estate giants urging President Biden to repurpose unused federal office space for housing

The Real Estate Roundtable, a group including major real estate firms such as Brookfield Properties, Blackstone, Empire State Realty Trust, Starwood Capital, as well as multiple major banks and CRE professional organizations, recently sent a letter to President Joe Biden on the implications of remote work within the federal government.

The roundtable expressed concern that the work-from-home trend in government would upset the commercial real estate industry in the Washington D.C.-area along with the local economy. “We … respectfully urge you to direct federal agencies to enhance their consideration of the impact of agency employee remote working on communities, surrounding small employers, transit systems, local tax bases, and other important considerations, along with the direct effect on governmental service delivery and labor productivity,” the letter reads. “In addition, we ask for your support of legislation to facilitate the increased conversion of underutilized office and other commercial real estate to much-needed housing.”

The roundtable’s action came after a General Accounting Office report from September said that based on a survey most agencies were planning significant reductions in the space they use.

Empty buildings lead to reduced economic activity in the form of less foot traffic to restaurants, stores, and entertainment venues. This in turn means less money for taxes that pay for city services and infrastructure. This downward spiral also leads to falling property valuations.

One option to halt such an economic slide, the roundtable wrote, would be to expedite conversions of under-used office space to housing, which is in short supply in many urban regions including the nation’s capital.

Zinc panels provide natural-looking, durable cladding for an administrative building and toll canopies at the newly expanded Queenstown Plaza U.S.-Canada border crossing at the Niagara Gorge. Toronto’s Moriyama & Teshima Architects chose the zinc alloy panels for their ability to blend with the structures’ scenic surroundings, as well as for their low maintenance and sustainable qualities. The structures incorporate 14,000 sf of Rheinzink’s branded Angled Standing Seam and Reveal Panels in graphite gray.

| Jan 4, 2011

An official bargain, White House loses $79 million in property value

One of the most famous office buildings in the world—and the official the residence of the President of the United States—is now worth only $251.6 million. At the top of the housing boom, the 132-room complex was valued at $331.5 million (still sounds like a bargain), according to Zillow, the online real estate marketplace. That reflects a decline in property value of about 24%.

| Dec 17, 2010

ARRA-funded Navy hospital aims for LEED Gold

The team of Clark/McCarthy, HKS Architects, and Wingler & Sharp are collaborating on the design of a new naval hospital at Camp Pendleton in Southern California. The $451 million project is the largest so far awarded by the U.S. Navy under the American Recovery and Reinvestment Act. The 500,000-sf, 67-bed hospital, to be located on a 70-acre site, will include facilities for emergency and primary care, specialty care clinics, surgery, and intensive care. The Building Team is targeting LEED Gold.

| Dec 2, 2010

U.S Energy Secretary Chu announces $21 Million to improve energy use in commercial buildings

U.S. Energy Secretary Steven Chu announced that 24 projects are receiving a total of $21 million in technical assistance to dramatically reduce the energy used in their commercial buildings. This initiative will connect commercial building owners and operators with multidisciplinary teams including researchers at DOE's National Laboratories and private sector building experts. The teams will design, construct, measure, and test low-energy building plans, and will help accelerate the deployment of cost-effective energy-saving measures in commercial buildings across the United States.

| Nov 10, 2010

$700 million plan to restore the National Mall

The National Mall—known as America’s front yard—is being targeted for a massive rehab and restoration that could cost as much as $700 million (it’s estimated that the Mall has $400 million in deferred maintenance alone). A few of the proposed projects: refurbishing the Grant Memorial, replacing the Capitol Reflecting Pool with a smaller pool or fountain, reconstructing the Constitution Gardens lake and constructing a multipurpose visitor center, and replacing the Sylvan Theater near the Washington Monument with a new multipurpose facility.

| Nov 9, 2010

U.S. Army steps up requirements for greening building

Cool roofs, solar water heating, and advanced metering are among energy-efficiency elements that will have to be used in new permanent Army buildings in the U.S. and abroad starting in FY 2013. Designs for new construction and major renovations will incorporate sustainable design and development principles contained in ASHRAE 189.1.

| Nov 3, 2010

Park’s green education center a lesson in sustainability

The new Cantigny Outdoor Education Center, located within the 500-acre Cantigny Park in Wheaton, Ill., earned LEED Silver. Designed by DLA Architects, the 3,100-sf multipurpose center will serve patrons of the park’s golf courses, museums, and display garden, one of the largest such gardens in the Midwest.

| Nov 3, 2010

Public works complex gets eco-friendly addition

The renovation and expansion of the public works operations facility in Wilmette, Ill., including a 5,000-sf addition that houses administrative and engineering offices, locker rooms, and a lunch room/meeting room, is seeking LEED Gold certification.