Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery: 09.02.2014
    We analyze Burger King’s purchase of Tim Horton’s, Halliburton’s billion-dollar settlement, and the resurrection of Arthur Andersen.
  • MarketFoolery 08.21.2014
    Ron Gross analyzes the keys to “deep value” investing, what opportunities he sees in the market right now, and when activist investors matter the most.
  • MarketFoolery 08.20.2014 Managing Director Austin Smith analyzes the recent M&A activity, shares his outlook on the stock market and why Zillow is the most interesting company on his radar.
Capital Business
Posted at 06:40 PM ET, 11/16/2011

Old Post Office developer selection postponed to early next year

The General Services Administration has pushed back the timeline to select a private development partner for the Old Post Office Pavilion.
The Old Post Office Pavilion in Northwest Washington. (Jeffrey MacMillan - For Capital Business)
The agency had planned to pick a partner by Nov. 17, but Bob Peck, commissioner of the Public Buildings Service, said Wednesday that his team needed more time to consider the proposals and that the GSA now plans to make a selection early in 2012.

The GSA has not released information about who submitted proposals for the Old Post Office, but more than a half dozen developers have announced their plans to preserve and redevelop the historic structure, including the Trump Hotel Collection, Hilton’s Waldorf Astoria, the National Museum of the Jewish People, Boston-based Carpenter & Co. and a slew of local names.

Most of the declared proposals suggest turning the building into a luxury hotel, but others suggest office space, museums or housing.

The Old Post Office, at 1100 Pennsylvania Ave. NW, was built in 1899 and still houses some government agencies, but is considered underutilized. The government plans to lease the site to a private development partner and move the agencies elsewhere.

The Old Post Office also isn’t the only Pennsylvania Avenue landmark that could be headed for change. A recent report by the Government Accountability Office found that the J. Edgar Hoover Building, headquarters of the Federal Bureau of Investigation, was deteriorating and that the FBI may need to consider renovating the building or relocating.

Follow Jonathan O’Connell on Twitter: @oconnellpostbiz

By  |  06:40 PM ET, 11/16/2011

Read what others are saying

    © 2011 The Washington Post Company