CarrAmerica Picked to Develop Monetary Fund's HQ

WASHINGTON, DC-The International Monetary Fund has decided to build a second headquarters building adjacent to its current location at 700 19th St. here. It has enlisted CarrAmerica Urban Development LLC, a subsidiary of CarrAmerica Realty Corp., to assist in the development.

The new building will be located at 1900 Pennsylvania Ave. and Pei Cobb Freed & Partners is designing it. A Planned Unit Development application was filed May 15 and is still pending review from the DC Zoning Commission. If approved, construction would begin in late 2002. Occupation of the building is not planned until late 2005.