The new building at the corner of F and 2nd streets, NE, will be adjacent to Union Station and the Thurgood Marshall Building. Called "Station Place," it will be developed and constructed by Louis Dreyfus Properties LLC of New York. The New York architecture firm of Kevin Roche John Dinkeloo and Associates designed the building.

SEC employees currently work in two locations in Washington--at 450 5th St. and 901 E St., NW. Once completed, the new building will be large enough to accommodate all of the SEC workers in the District of Columbia and ease overcrowding problems, according to SEC officials. Not yet under construction, the facility is scheduled to be ready for occupancy in three years.

The SEC, which was represented by Spaulding & Slye Colliers, chose this site out of six finalists because of its proximity to transportation. SEC officials said the choice would help it remain in the District over the next decade. In the mid-1990s, the agency was reportedly considering a move outside the city because it had outgrown its headquarters.