DC's old Vanguard building to be converted into downtown apartments
WASHINGTON (7News) — D.C. Mayor Muriel Bowser on Thursday celebrated the conversion ceremony of the old Vanguard building into the new Elle Apartments.
Bowser was joined on-site by the Deputy Mayor of Planning and Economic Development. The Vanguard building opened in 1965 and, for years, was home to the Peace Corps.
The conversion of the building marks a significant step in reimagining the downtown area as a more vibrant mixed-use community, where residents can live, work, and play, Bowser's office said.
At the event, Bowser also highlighted her Housing in Downtown Abatement Program, which will encourage new residential conversion projects downtown.
“As we continue our comeback, we are very focused on how we reimagine downtown,” said Mayor Bowser. “We have seen how mixed-use communities are more resilient in the face of adversity. By converting vacant offices into homes, we can put these spaces back to productive use, add much-needed housing, and create a vibrant downtown where people live, work, and play.”
ALSO READ | Bowser encourages families to sign up for youth programs at District's Achievement Centers
Expected to open in May 2024, the Elle Apartments will bring 163 residential units and 8,000 square feet of ground-floor retail to the downtown area. The building will include a restaurant, rooftop pool, a dog park, and a host of other amenities.
Currently, 92 percent of the Central Business District is made up of commercial space versus just 8 percent for residential.
The COVID-19 pandemic led to a number of high office vacancy rates due to remote work and hybrid work trends, creating a new opportunity for the District to convert vacant and underutilized office spaces into new buildings for residential and retail use, including affordable housing units.
“We have approached our downtown reimagination strategy from three lenses: Change the Space, Fill the Space, and Bring the People,” said Deputy Mayor John Falcicchio. “We know that creating new housing in downtown will lead to a more vibrant neighborhood and 24/7 economy. The Housing in Downtown Abatement Program will incentivize more conversions, and bring about more housing affordability and retail opportunities.”
The Housing in Downtown Abatement Program will incentivize future residential transformations by providing tax relief for new residential projects in the Central Business District, Bowser's office said.
The program requires projects to include 15 percent of units to be affordable at 60 percent of the Median Family Income. DMPED will issue regulations in early 2023 for public comment and a Request for Applications later in the year.
Beginning in the fiscal year 2024 through the Fiscal year 2026, $2.5 million will be available for this abatement, increasing to $6.8 million in the fiscal year 2027 before increasing by 4 percent annually.
Family-owned developer Willco originally constructed the Vanguard building in 1965 as one of D.C.’s most significant development projects and high-rise office buildings in the neighborhood.
Wilco is leading the redevelopment of the Vanguard building, now among the first to convert its large-scale office space into a residential structure in the Golden Triangle.
