The United Negro College Fund made its move to Washington official Monday with the purchase of its new headquarters space in a $150 million development above the Shaw Metro station that many hope will rejuvenate the historic black neighborhood. Called Progression Place, the building is a massive office, residential and retail project that city officials say will bring 500 construction jobs and 300 permanent jobs to the District. UNCF paid roughly $24 million for 50,000 square feet within the building, half the available office space. At the project’s ceremonial groundbreaking Monday — construction began in December — Mayor Vincent Gray said UNCF’s move from Fairfax would be a shot in the arm for the city’s economy. The city has $20 million invested in the project, which is scheduled to finish in late 2012 and expected to generate at least $25 million in new taxes over the next two decades.
“[We] welcome the jobs that UNCF will bring to the city and the jobs that the new building will generate all around the Shaw neighborhood,” Gray said.
City officials lured the nonprofit here with a grant of $710,000 and tax incentives totaling $3.6 million over the next decade.
UNCF President and CEO Michael L. Lomax, co-chairman of Gray’s education transition team, said he hoped other education reform organizations would join the nonprofit in the new building, “making it a center for education foundations, institutes and other reform activities.”
When UNCF announced its intentions to move to D.C. a year ago, it had planned on joining Radio One Inc. in the building, which was to be called Broadcast Center. But Radio One pulled out last winter because of construction delays, and the building’s name was changed.
The development is being built by Broadcast Center Partners LLC, a partnership between Four Points LLC and Ellis Development Group. In addition to 100,000 square feet of office space, plans include 205 apartments, 20,000 square feet of retail space mostly behind townhouse storefronts and a 185-space underground parking garage.
The project is adjacent to the historic Howard Theater, which is undergoing a $25 million renovation.
