With the Bureau Definitely Headed For DC suburbs, JV Touts Greenbelt, MD Site for Huge Transit-Oriented Development
Doubling down on its bid to develop a new headquarters for the Federal Bureau of Investigation, Renard Development Co., LLC has partnered with Related Companies to bring the proposed facility to the Washington Metropolitan Area Transit Authority’s Greenbelt Station site in Prince George’s County, MD.
The 78-acre site near Interstates 95 and 495 and exit 24 in Greenbelt is one of three sites shortlisted in recent days by the General Services Administration (GSA) and the FBI. The list doesn’t include a site in Washington, DC.
The other sites include the former Landover Mall at the Beltway near Route 202, also in Prince George's County; and the Franconia warehouse complex in Springfield, VA.
The new Renard/Related joint venture faces competition from other big-name developers. In a joint venture with The Tower Cos., Lerner Enterprises, owned by the family that owns the Washington Nationals, proposed the 88-acre former Landover Mall site in January. Boston Properties (NYSE: BXP
) is leading the effort to site the project on 70 acres in Springfield.
Touting the Greenbelt Station site, the new Renard/Related joint venture said the site has in-place approvals “offering the greatest speed to market of any site in the National Capital region,” the companies said in a release. The site’s size, location and proximity to Metro and Maryland Area Regional Commuter provide a true urban transit-oriented development opportunity, the venture said.
Renard and its architect Gensler have outlined a 10-building, 3.7 million-square-foot complex, including five high-security buildings for the FBI headquarters campus.
The relocation of the FBI headquarters from Washington, DC, to the suburbs would present a major redevelopment opportunity at the 6.7-acre J. Edgar Hoover Building property at 1000 Pennsylvania Ave. for Related, one of the nation’s leading urban mixed-use project developers.
Related Urban’s large-scale project list includes the Time Warner Center in New York City, CityPlace in West Palm Beach, FL, and the 17-million-square-foot Hudson Yards project under development on Manhattan’s West Side.
Related brings the experience, skills, track-record and financial capabilities essential to competing for the opportunity to create a new state-of-the-art headquarters for the FBI in Greenbelt and redevelopment of the Hoover Building into a world class destinations,” said Garth Beall, manager of Renard Development.
“This partnership is another strong indication that Prince George’s County has the best sites that can accommodate the headquarters for the FBI.”
Next, the GSA will conduct environmental reviews and receive public comment on each of the sites. During the review, GSA will begin seeking developers, with a second phase of the process including the fielding of development proposals from selected developers.