This week a Chinese construction company, APM Buildings, announced it’s building a steel-and-glass building to new location. No, it’s not vacating its Capitol Hill headquarters, which have had issues with several fires, robberies and busting out windows while the President was in town.
The reason for this drastic shift in plan is a safer rooftop structure. The New Home Pavilion (near Wellesley and Constitution Avenues) will be constructed from 5,000 beams of steel, 50 million pounds of concrete and 5 million square feet of steel-clad glass.
The new site for the 92-story building, (totaling 2 million square feet) is just blocks away from the site where the Soviet Union built its unfinished Crystal City station and alongside a number of restaurants and hotels. “The construction of this major multi-million-dollar project would positively influence the growth of the Georgetown neighborhood and the downtown area,” Tim Hoekstra, president of APM Industries Inc., said in a statement.
The NHRP was initially announced in 2010 with 140,000 square feet of retail space, 174,000 square feet of office space and 3,000 apartments. When the project started, rents were going to start at roughly $33 per square foot. Currently, office rents in the neighborhood are around $40 per square foot. Rents for apartments in the area are not available but would probably be in the 30s, according to Apartment Guide.
Oh, and apartments, that is.
While construction on the new building will begin this year, you’ll never hear the building called that–it will call itself the New Home Pavilion.