Washington, D.C
CoStar Moving HQ From D.C. To Northern Virginia Tower It's Buying
CoStar Group is officially moving its global headquarters from D.C. to Northern Virginia, the latest blow to the downtown office market.
The real estate data giant purchased the 31-story Central Place office tower in Arlington’s Rosslyn neighborhood from JBG Smith, where it plans to relocate by late 2024, Virginia Gov. Glenn Youngkin announced Tuesday.
Central Place office tower at 1201 Wilson Blvd. in Arlington, Virginia.
A sale price wasn’t disclosed and the deal wasn’t recorded with the County by the time of publication. JBG Smith declined to comment.
The company plans to occupy 150K SF at the 560K SF property and invest $20M in its new headquarters, which is expected to open later this year, according to Youngkin’s release. The move will relocate 500 existing jobs and add 150 new jobs.
The announcement comes after the Washington Business Journal first reported that the company had been in talks for the deal last month.
“The financially strategic acquisition of this building will provide the perfect home for the more than 500 employees at our current headquarters,” CoStar founder and CEO Andy Florance said. “We’re incredibly thankful for our 14 years calling Washington, D.C. home, and we will continue to be a part of this community even as we move across the river to Arlington County.”
CoStar has been headquartered a few blocks from the White House at 1331 L St. NW since 2010.
Youngkin approved a $1.25M grant from the Commonwealth’s Opportunity Fund and a $3.5M Virginia Economic Development Incentive Grant for the relocation, according to the release.
“As states compete for business and jobs, the Commonwealth’s diverse, world-class talent, exceptional quality of life and stable business climate continues to stand out,” Youngkin said in the release. “We are proud that CoStar has chosen Virginia as its home.”
Central Place, one of the tallest office buildings in the region, was developed by JBG Smith in 2018.
The move means another large tenant loss for D.C., which is also bracing for Fannie Mae to exit its 700K SF headquarters space at Midtown Center. It’s unclear where the company would relocate. Meanwhile, Monumental Sports, the owner of the Washington Capitals and Wizards, plans to move the teams from their home in Chinatown to Potomac Yard in 2028.
“We know that D.C. is a great place to do business and offers employers unparalleled access to talent, amenities, transit and all that makes the District a world-class city,” a spokesperson for D.C.’s Office of the Deputy Mayor for Planning and Economic Development told Bisnow. “We also recognize companies make decisions on where to locate based on a number of factors that align with their strategic priorities.”
Washington, D.C
Woman shot at Laurel Cinco de Mayo event plans legal action
Weeks after a Cinco de Mayo celebration turned violent in Prince George’s County, a woman shot outside a Laurel restaurant says she remains traumatized by the ordeal. FOX 5 D.C.’s Shomari Stone has the exclusive.
Washington, D.C
Tickets now available for new museum underneath Lincoln Memorial – WTOP News
Starting Tuesday, those who’d like to check out the museum can reserve tickets online 30 days in advance of visiting. The timed-entry tickets are free, aside from a $1 service fee per reservation.
Now is the time to act if you want to be one of the first people to experience D.C.’s newest museum.
Tickets are now available for the museum underneath the Lincoln Memorial, which opens to the public June 25. The timed-entry tickets are free, aside from a $1 service fee per reservation.
Starting Tuesday, those who’d like to check out the museum can reserve tickets online 30 days in advance of visiting.
Individuals can reserve up to six tickets per transaction. Once the museum opens, free, same-day tickets will also be distributed starting at 8:45 a.m. at the Korean War Veterans Memorial kiosk on Daniel Chester French Drive, just south of the Lincoln Memorial, according to the National Park Service, which noted supplies will be limited and demand is expected to be high.
The museum features 15,000 square feet of exhibit area and will introduce visitors to a “dramatic, previously unseen space beneath the memorial,” the park service said in a news release.
“This cavernous structural chamber contains a soaring grid of concrete columns that support the memorial above and offers a striking view of the engineering that made the iconic monument possible. The experience will feature interactive displays and a multimedia presentation that explores how the memorial’s meaning has evolved over the last century,” the park service said.
Exhibits will not only tell the story of the memorial’s construction and Lincoln himself, they will also explore the memorial’s long-standing role as the backdrop for protests, rallies and, perhaps most notably, demonstrations during the Civil Rights Movement.
“So to tell that story in a more full manner, in a museum of this size, I think is going to be really important,” park service spokesman Mike Litterst told WTOP last year.
WTOP’s Luke Lukert contributed to this report.
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Washington, D.C
Company that turns light posts into EV chargers among 3 to win energy grant from DC
WASHINGTON (7News) — A light went off in Jeff Prosserman’s head when he noticed there were missed opportunities for adding more electric vehicle (EV) chargers.
He is the co-founder and CEO of Voltpost, which retrofits light posts to install EV charging stations, using the existing electrical infrastructure.
“By doing this, we can significantly reduce the costs, the timing, and physical footprint of charger deployment. The interconnection process is with us pulling a single cable bundle through the existing conduit, dropping the power down from overhead, and connecting that to the grid,” Prosserman said. “That process can save tens of thousands of dollars, and install within just a few hours with no construction and trenching.”
Soon, Voltpost will build 16 chargers into D.C. light posts, thanks to a grant from the city.
The D.C. Department of Energy and Environment (DOEE) recently awarded $609,000 in grants split among three companies dedicated to building EV charging stations: Voltpost, it’s electric, and PowerUp America.
DC awarded three companies grant money to build more EV chargers in the city. Currently, there are only two city-owned stations. (7News)
“The grants are intended to offset the upfront equipment and installation costs associated with expanding EV charging access. One of the selected grantees, Voltpost, plans to install chargers on existing utility poles. Using existing infrastructure can reduce installation costs and deployment timelines compared to traditional charging stations, while also helping serve residents who may not have access to private driveways or parking lots for home charging,” a DOEE spokesperson said in a statement. “This investment aligns with Mayor Muriel Bowser’s continued commitment to modernizing transportation infrastructure, expanding clean energy access, and supporting the District’s climate goals.”
PowerUp America CEO Josh Turner told 7News that this grant money goes a long way to meet the growing demand in D.C., providing the spark needed to build 10 EV chargers.
“EV adoptions continue to grow; we’re seeing it as a national trend. In that, we will see the urban areas built out. But grants like this just help us accelerate infrastructure to make more of an impact today,” Turner said.
Prosserman echoed this sentiment, saying, “Having that convenient and affordable charging access where people park today becomes critically important to ease the transition from gas to electric.”
The third company winning the grant, which is electric, has specialized in building curbside chargers, having already installed one in D.C.
“We won because we are the only company in the U.S. that offers a curbside solution that works for cities, with hardware that any EV driver can use. We are building curbside charging so it can scale in U.S. cities,” an it’s electric spokesperson said in a statement. “For this grant, we’re also exploring how solar infrastructure can be used to power EV charging stations, through a collaboration with Skyhook.”
The Alliance for Automotive Innovation found more than 20 % of new cars bought by D.C. residents were electric vehicles, a rate that was second only to California.
However, the District Department of Transportation (DDOT) reports the city owns only 6 total ports at two locations across the city.
There are more than 1,000 privately-run chargers, but the CEOs who spoke with 7News said there are hurdles to building more stations.
“There’s a lot of permitting and a lot of other things you have to deal with to get from A to B,” Turner said. “The District, just because of its location, tends to be higher in power costs than across the river. If you go into Virginia, some of those rates are more competitive. You see a lot of infrastructure providers logically say, ‘Hey, let’s go where the power is cheaper.’”
Prosserman added: “We’re working closely with Pepco, the Department of Energy and Environment, as well as other local agencies in order to find ideal sites for the chargers to be deployed. Working with government agencies and utilities is a slow process, and making sure we create alignment both with local level, the general public, people living on the streets, plus the utilities and the agencies, and factoring that all into the ideal site assessment to deploy.”
These grants are not funded by city taxpayer dollars. Instead, they come from settlement money won by the Environmental Protection Agency (EPA) against Volkswagen after the company violated the Clean Air Act.
This money was distributed to all states, Puerto Rico, and D.C., and can only be used for environmental mitigation actions, like building more EV charging infrastructure.
“The program is funded through the District’s allocation from the Volkswagen settlement, meaning no District tax dollars are being used beyond staff administration time. EV drivers using the charging stations will pay charging fees, which are expected to cover electricity costs and ongoing operating expenses of the grantee partners. Additionally, the chargers will generate revenue through sales tax and other fees on electricity,” a DOEE spokesperson said in a statement.
Turner said grants like this supercharge the effort to keep up with demand in a way that eases the burden for companies.
“Our goal is to not just get chargers in the ground, but to partner with the community,” Turner said. “We have initiatives in place to continue to reinvest the money from those chargers into more infrastructure. Our goal is to really make a meaningful impact in the community.”
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