Rendering of City Ridge in Washington DC
WASHINGTON DC – Joint-venture partners, Roadside Development and North America Sekisui House LLC have secured a lease with International Baccalaureate (IB) at City Ridge, Washington DC's new, mixed-use neighborhood.
The global education foundation will serve as the anchor office tenant for the community; occupying the former Fannie Mae headquarters building, located at 3900 Wisconsin Avenue NW.
The historic site will undergo a $750 million transformation, implemented by the joint-venture firms, into the "urban village" of City Ridge. The reimagination will convert the area into a multi-use destination, featuring nine new buildings in addition to the repurposing of the historic site.
The space will offer the district's first Wegmans food market, health club, restaurants, shops, offices and luxury residential units. Upon completion, City Ridge will be comprised of 687 residential units, 155,000 square feet of retail space and 167,000 square feet of office space. The neighborhood will preserve and reimagine of the front lawn, and will feature additional open space as a focal point.
IB will lead the transformational development with its new offices, in addition to its offices in the UK, The Netherlands, Switzerland and Singapore. The joint-venture partners welcome IB as a strong partner to the community; expecting the tenant to solidify the new, walkable neighborhood as a premier mixed-use development in the Northwest corridor of DC.
The partners intend to leverage IB's community engagement to help enrich the area. As an active participant in the neighborhood, IB will contribute to and engage in educational issues, while showcasing the work of its local and global student innovators.
With a mission to improve the world through education, International Baccalaureate (IB) is a non-profit foundation that offers challenging educational programming geared toward students between the ages of three and 19. Founded in Switzerland in 1968, the foundation's curriculum is taught to more than 18 million IB students, attending more than 6,000 schools across 157 countries.
Roadside Development is a real estate firm that invests in communities and offers services in acquisitions, land-use planning, site development, construction management, retail leasing and asset management. Based in Washington DC, the firm specializes in creating adaptive reuse projects.
The US business operations unit and a full subsidiary of Sekisui House LTD, North America Sekisui House LLC is a diversified developer and Japan's largest homebuilder since 1960. The company establishes joint-ventures to build mixed-use and master-planned communities.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
