The GSA Warns FBI Bidders Against Undervaluing The Hoover Building
The General Services Administration has taken the time to remind prospective bidders for the FBI HQ project that the J. Edgar Hoover building remains part of the equation, and also to make it clear that it doesn't want to be low-balled on the value of the iconic—but deteriorating—building.
The agency posted an amendment to the project listing on FedBizzOpps this past Thursday. The notice reads in part that the agency reserves the right to reject any bids that do not offer a "fair and reasonable" value for the Hoover building, the Washington Business Journal reports.
The building, at 935 Pennsylvania Ave NW, will be deeded to the successful bidder, which will then be able to subtract its value from the total cost of constructing new digs for the FBI. It’s unclear exactly what bidders will be willing to pay for the 2.4M SF building, and the proposed swap has been criticized by members of Congress for unnecessarily complicating the transaction.
The bid process comes to a close on June 22, and the potential sites for the new HQ have been narrowed to Greenbelt, Landover or Springfield. Last week, the National Capital Planning Commission gave prospective bidders something else to ponder, as the agency’s staff is backing a proposal that would allow whatever replaces the Hoover building to build to the max height up to the public right of way. [WBJ]