Columbia Plaza
2400 Virginia Avenue, NW Washington, DC
Karchem's Role: Project Manager
Size: 5 buildings, 800 units, 1,519 parking spaces in 5 garages, and 34,000 SF of retail
Year Built: 1967
Budget: $4.6 million redevelopment
Schedule: last 3 weeks of 1999 to facilitate closing by year end
Karchem Properties was retained by the George Washington University (GW) to address GW's immediate concerns before execution of the purchase agreement. In addition, we looked ahead to identify long-term capital requirements and opportunities, such as redeveloping the property's retail component.
Karchem Properties assisted the university in conducting acquisition due diligence on the apartment complex in anticipation of GW's entry into a partnership with the property's existing owner. Karchem reviewed the condition of the property for use as student housing. Managing a team of four other companies, including engineers and environmental consultants, Karchem Properties prepared the budget for building renovation. The renovation program called for installing major building systems, new furnishings and equipment and fiber optic communications as well as abating hazardous materials and undertaking upgrades required by the Americans with Disabilities Act (ADA). Karchem recommended an operating and maintenance management program for remediation activities.
Columbia Plaza is listed as no. 136 in Best Addresses, A Century of Washington's Distinguished Apartment Houses written by James M. Goode and published by Smithsonian Books. In Chapter 5, Modernism Reigns Supreme, 1946-1973, the property is described in Notable Additions as an outstanding example of the International Style located in Foggy Bottom. It is a mixed-use development, which includes an office building, retail and large courtyard.
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