Richard Levy, Four Seasons Residences Win Georgetown Plant Auction
As the General Services Administration conducted an online auction to sell off Georgetown's West Heating Plant, there were two parallel contests taking place: one among the developers seeking to buy the plant, and the other among the rest of us, seeking to figure out who the anonymous bidders were.
The first contest wrapped up when the bidding ended on March 6, and Bidder #2's $19.5 million bid came out on top. But that only heightened the second contest, which wasn't resolved by this afternoon's announcement from GSA that the winning bidder was Georgetown 29K LLC—an entity set up two months ago and registered to an address in Wilmington, Del.
But now we know the identity of both winners. The Washington Business Journal's Dan Sernovitz has the scoop that Bidder #2 is a team consisting of developer Richard Levy, coincidentally named New York-based The Georgetown Co., and the Four Seasons Residences. The team is planning to spend over $100 million to convert the old plant into about 80 high-end condos.
Working on the design for the team is British architect David Adjaye—known in D.C. for his designs of the new Francis A. Gregory and Bellevue libraries.
According to a press release from McGinn and Company, the official closing will take place on June 12.
Update: Looks like The Georgetown Metropolitan's Topher Mathews actually reported this rumor first. His post this morning was anonymously sourced and unconfirmed, but still, credit where it's due.
Photo from Flickr user Mr. T in DC