Indiana University closes on building in Washington, D.C. How much did it pay?
Indiana University has purchased a building in Washington, D.C., for $17.5 million where it intends to provide programming and housing for students.
The eight-story building at 1619 Massachusetts Ave. NW has an assessed value of $43 million, according to Washington property records, and sits along Embassy Row, a stretch of Massachusetts Avenue where hundreds of international embassy offices are located.
From October: Indiana University tight-lipped about its new $43 million building in downtown D.C.
IU spokesman Mark Bode confirmed the IU Foundation had a contract to purchase the building from Johns Hopkins University last October, but at the time declined to comment on the building's purpose. The building was purchased by the IU Foundation on March 14, according to property records.
In a press release, IU said the building will 'bring together and expand IU's ongoing academic programs and business operations in the nation's capital.'The news release stated the building had been 'in the works' since President Pamela Whitten took office in 2021.
IU Bloomington has at least four Washington, D.C.-based programs, including the Hamilton Lugar School's Global Leadership Forum, the O'Neill School of Public and Environmental Affairs' D.C. Accelerator and Washington Leadership Program, and a Washington-based internship in the political science department. IU Indianapolis' O'Neill School also has a Washington Leadership Program.
In the release, IU hinted that the university's multiple campuses may expand programming in Washington.
'Each campus will be encouraged to engage through programming and opportunities spanning a few days to entire semesters,' the press release said. 'Additional plans for the building's use and IU's presence in the capital are expected to develop over the coming academic year and beyond.'
IU said the building will provide housing to IU students who previously had no dedicated housing arrangement in the capital. Washington and neighboring city Arlington, Virginia, are among the 10 most expensive cities in which to rent in the country, according to rental search company Zumper's National Rent Report.
In an October presentation to the Dupont Circle advisory neighborhood commission, an attorney for the university said IU plans to have approximately 40 beds split evenly between the building's sixth and seventh floors, with communal hall bathrooms on each floor.
IU said the building is expected to be ready for occupancy in early 2026, pending approval from the Board of Trustees on a lease agreement between the university and the IU Foundation.
The next Board of Trustees meeting is on June 12 and 13 at IU Bloomington.
Reach Brian Rosenzweig at brian@heraldt.com. Follow him on Twitter/X at @brianwritesnews.
This article originally appeared on The Herald-Times: Indiana University purchases Washington DC building for 17 million
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