Larry Silverstein, Steve Roth and the J. Edgar Hoover building (Getty)

Three years ago, Silverstein Properties and Vornado Realty Trust were among the four finalists who redeveloped the FBI headquarters. The government has rejected this plan, but the renewed momentum of the project – in the form of funding contained in a proposed Covid Aid Law – offers developers another option.

As part of the second major federal coronavirus aid package, Senate Republicans proposed spending $ 1.75 billion on a new FBI headquarters in Washington, DC. According to the law, mortgage lending would help the FBI "prevent, prepare for, and respond to corona viruses." at home or abroad. "

President Donald Trump has pushed for a new headquarters to replace the FBI's current home, the deteriorating J. Edgar Hoover building.

Earlier plans were to move headquarters outside of Washington, DC. The General Services Administration, the agency that manages federal real estate, had launched a competition to find a developer to build the headquarters and the opportunity to redesign the J. Edgar Hoover building down the street Trump International Hotel is located in the Old Post Office Pavilion.

When plans to move headquarters ended, the Democrats accused the President of intervening to protect his hotel from possible competition from anything that is being built on the current site. According to the Washington Post, the Inspector General of Justice is still investigating what led to the cancellation of the plan.

It is unclear whether the nearly $ 1.8 billion will ultimately be approved, whether it depends on downtown DC headquarters, and whether outside developers are involved. If the headquarters is relocated, it is not known whether the GSA will restart the tender.

Since the original plan was terminated, Vornado has largely withdrawn from the DC market after the spin-off of JBG SMITH Properties has been completed. An industry source said Silverstein is still interested in the headquarters.

Silverstein representatives declined to comment, and Vornado was not immediately available. A representative from the GSA referred questions to the FBI, which did not return requests for comments.

Write to Kathryn Brenzel at (email protected)

LEAVE A REPLY

Please enter your comment!
Please enter your name here