Tuesday, March 12, 2013
The winning bidder in the West Heating Plant Auction is a development team that includes developer Richard Levy, New York-based The Georgetown Co. and the Four Seasons Residences, the Washington Business Journal reports.
Updated 3:48 p.m. The General Services Administration (GSA) announced Tuesday that it has accepted a $19.5 million bid for the Georgetown West Heating Plant from Georgetown 29K, LLC. The Washington Business Journal had an exclusive interview with the development team, which includes developer Richard Levy, New York-based The Georgetown Co. and the Four Seasons Residences. The West Heating Plant auction closed last Wednesday. GSA is now working to close the sale. Georgetown 29K, LLC "will now have ten days to provide an additional deposit to move the sale process forward. After the deposit is received, the transfer of title to the new owner should happen within approximately 100 days," according to a press release from GSA. The Levy team's…
Friday, February 22, 2013
New bidders have joined the fray and the price increases daily.
The auction of the West Heating Plant in Georgetown is far from over days after the soft close of the General Services Administration eBay-style auction of the 2-acre lot and 20,000 square-foot building at 29th and K Streets, NW. Though the soft close for the auction was 5 p.m. on Feb. 19, the auction will not officially end until 24 hours go by without a new bid. Since Tuesday, 13 new bids have slowly pushed up the going price. A new bid must be at least $200,000 more than the previous bid. By the end of the day Thursday, the winning bid had jumped to $11.5 million, up from $6.95 million that morning. Anonymous Bidder#05 was in the lead Thursday evening, having joined the fray Wednesday, a day after the auction was potentially set to …
Tuesday, February 19, 2013
Anonymous bidders are battling over the West Heating Plant in Georgetown.
In the few final hours of bidding in the West Heating Plant auction, four anonymous bidders drove the bid price from a measley $501,000 to more than $5.2 million as of 4 p.m. Tuesday. GSA determined that the West Heating Plant site, a 2-acre lot with a 20,000 s.f. building, was excess property. After going through a disposal process, which included opportunities for community feedback, GSA approved an eBay-style auction so the property at 29th and K Streets, NW would go to the highest bidder. The General Services Administration (GSA) opened the auction Jan. 18, the first bid arrived Feb. 14 and the soft close was 5 p.m. Tuesday. On Tuesday alone there were 13 bids, each increasing by at least the minimum increment of $200,000. The soft …
Tuesday, January 29, 2013
An update to the Invitation for Bid advises potential participants of NPS's desire.
The National Park Service wants a conservation easement on the West Heating Plant property to prevent a future owner from building anything on certain portions of the land. The General Services Administration is auctioning off the West Heating Plant federal property at 1051 29th St. NW, though there have been no bids in the week and a half since bidding opened on Jan. 18. The easement, for a section of land outside the high stone wall that runs adjacent to Rock Creek and the C&O Canal, would prohibit development of anything on the land east of the high retaining wall adjacent to Rock Creek or on the land north of the stone wall that is adjacent to the C&O Canal. It would also maintain public access to Rock Creek and the C&O Canal from the …
38.903268
-77.058047
1051 29th St NW, Washington, DC
/articles/nps-seeks-conservation-easement-for-portion-of-west-heating-plant-site
/locations/8697002
Friday, January 18, 2013
If you have $500,000, you can place a bid, starting at 8 a.m. Friday, on the 2-acre excess federal property in Georgetown.
The West Heating Plant, one of the last large, underutilized properties in Georgetown, goes on the auction block today at 8 a.m. The General Services Administration auction requires a registration deposit of $500,000, which is also the starting bid. Bids must be made in increments of $200,000. The auction closes at 5 p.m. Feb. 19, though GSA reserves the right to a possible auction extension. The decommissioned federal property at 29th and K Streets, NW includes a 20,000 square-foot building on a 2-acre lot. The auction comes after a year of community meetings, site evaluations, public input period and other actions necessary to dispose of federal property. Most recently in December the GSA posted its Environmental Assessment (EA) online …
Wednesday, December 19, 2012
The starting bid in General Services Administration (GSA)'s auction is $500,000.
The General Services Administration (GSA) will start its online eBay-style auction Jan. 18 for the Georgetown West Heating Plant. Interested parties must submit a registration deposit of $500,000, which is also the starting bid. The auction closes at 5 p.m. Feb. 19, though GSA reserves the right to a possible auction extension. The West Heating Plant, a 20,000 square-foot building on a 2-acre lot, is a surplus federal property on 29th Street, just north of K Street, NW in Georgetown. For almost a year the GSA has been in the process of disposing of the property, which is one of the biggest swaths of land left for large development in Georgetown. The building offers expansive views of the Potomac, the monuments, downtown and of Georgetown …
Shaun Courtney
10:36 am on Wednesday, February 20, 2013
Thanks for your input, Walter. The bidding is up to $5.6 million, but that is certainly less than the numbers you proffered. -Shaun more ›