The Obama Administration has pledged $1.4B in funding towards a new HQ for the FBI.

The funding will be included in the President’s FY 2017 Budget, which will be released next month. Coinciding with the funding announcement, the General Services Administration has issued Phase 2 of the RFP to bidders seeking the title to the J. Edgar Hoover Building in exchange for the construction of a new FBI HQ.

The GSA is seeking a new 2.1M SF building that will bring several FBI functions together under one roof. The GSA notified Phase 2’s short-listed bidders back in October. The bidders will now submit proposals to construct a new HQ in exchange for the Hoover building. Potential sites for a new facility have already been identified in Greenbelt, Landover and Springfield.

The FBI has made its home at the Hoover building on Pennsylvania Avenue since 1974. The 2.4M SF building sits on 6.7 acres and could have a future incarnation as offices, retail or residential.