Reply to Huge change - Marriott Wardman Park in Woodley DC possibly demolished

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[quote=Anonymous][quote=Anonymous]I would be surprised if it actually does get razed.  The conference center below the hotel is huge with almost 200K sf of convention space.  That would be expensive to demo and replace.  You have to have something worth more money to build there and there's nothing likely that will be cost effective to put there that would be worth spending the kind of money necessary to demo that convention center.[/quote]

Demolition isn’t that expensive, and condos right next to the metro and the Park are worth more money.

From the Wikipedia entry:

In 2014, JBG constructed an apartment building on the western portion on the site designed to mirror the historic Wardman Tower. It was first named Wardman West, but was later renamed The Woodley. The apartment building was sold for a record-breaking $920,000 per unit.[14]

In 2015, JBG renovated floors 3-8 of the Wardman Tower into 32 luxury condominiums, while the first and second floors remained part of the hotel business.[15] The project was financed by a $54 million investment from North America Sekisui House LLC (NASH), the North American division of the largest homebuilding corporation in Japan.[16] One of the condominium units sold for $8.4 million.[17]

https://en.wikipedia.org/wiki/Marriott_Wardman_Park[/quote]

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