Skanska USA Commercial Development Inc. will convert an office, two University buildings and four restaurants into an 11-story structure with a glass curtain exterior overlooking Pennsylvania Avenue.
Headquartered in New York, Swedish-owned Skanska announced that it would also serve as a general contractor and self-finance the project, which will include 250,000 square feet of office space and 7,000 square feet for restaurants and shops on the ground level. Gensler will serve as the architect.
Skanska has not yet determined when the project will break ground, the Washington Business Journal reported. It also has not yet estimated how much construction will cost.
“The opportunity to bring a new development to Pennsylvania Avenue doesn’t come along very often,” Robert Ward, Skanska executive vice president and regional manager, said in a release.
The building will receive a stamp of approval for its environmentally friendly design, earning a Leadership in Energy and Environmental Design Gold certification.
The renovation means the restaurants currently lining the block will have to close shop soon. The Froggy Bottom Pub moved to a new K Street location last year, and the owners of Thai Place opened a new restaurant on L Street last month. But the Thai Place owners have said that they don’t know when they need to clear their Pennsylvania Avenue store.
Lou Katz, the University’s executive vice president and treasurer, said in the release that the project would enhance the Foggy Bottom neighborhood.
“We are certain that Skanska will deliver a world-class office building at the edge of our campus on Pennsylvania Avenue,” Katz said.