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Freedom Forum Signs Contract to Buy DOES Building Land

WASHINGTON, DC-An Arlington-based nonprofit signs a $100-million contract to buy the much-prized Pennsylvania Avenue development site where it plans to build new Newseum, and pay installments of $10 million. DC Council has yet to approve the sole-source transaction.

By Mike Cleary | Updated on October 06, 2000

WASHINGTON, DC-The Freedom Forum has signed a contract to buy land at 6th Street NW and Pennsylvania Avenue, where it plans to build a new headquarters and museum on journalism. The nonprofit has transmitted the first $10 million installment on the purchase to Riggs Bank.

DC Council must still approve the sale, which is unusual in that normally the city puts its properties out for competitive bid. The Arlington, VA, nonprofit offered $100 million for the property–an amount that local real estate industry officials called far above any probable competing offers.

The offer includes $25 million for housing in the District.

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