The Address Formerly Known as 501 K
Boston Properties and Steuart Investment are choosing to go against tradition and "shun" the address of a planned 520k SF building. The partnership has a rare opportunity to redevelop a Mount Vernon Triangle building with prime visibility along New York Avenue, Fifth and Sixth streets. While a much sought-after K Street address historically represents power and influence, the partnership is choosing to forgo the 501 K St moniker in favor of 1001 Sixth St NW, the Washington Business Journal reports. Boston Properties EVP Ray Ritchey explained the value of the site's new address, saying they are going for a "less is more" strategy to attract Millennials. The building design will meet traditional tenants space needs while still attracting tech tenants. Plus, the building's main entrance will be on Sixth Street. In earnings statements, Boston now refers to the site as 1001 Sixth St NW, formerly known as 501 K. However, the developers could arrange for multiple tenants to have their own addresses at either 501 K, 1001 Sixth or even 500 New York Ave. [WBJ]
