Proposed Apple site has the potential to revitalize historic space in a rapidly developing area of the District of Columbia
Washington, DC (PRWEB) December 09, 2016
Events DC, the official convention and sports authority of the District of Columbia, announced today that it has entered into a Letter of Intent with Apple Inc. for a potential lease of portions of the historic Carnegie Library at Mt. Vernon Square. If final negotiations are successful, the development will help to breathe new life into a popular historic site and to reimagine the original intent for the building, located in the heart of Washington, DC.
“As Washington, DC looks to be the ‘inclusive innovation’ capital of the country, we are excited that Apple is interested in joining our growing tech ecosystem,” said Mayor Muriel Bowser. “The store’s proposed location, in the iconic Carnegie Library, will link DC’s rich history to our continued economic renaissance, will demonstrate the strength of our retail market, and will tell companies across the globe that the District is open for business.”
“This is an extremely important repositioning of an iconic building—a building whose original purpose was about community, information and sharing of knowledge-for the 19th century. As cities evolve so do its buildings. But we also retain the essential characteristics for a new century—how we collaborate, engage and share information and knowledge is now different—and this evolution of the Carnegie Library provides a platform for the 21st century-all while creating jobs, enlivening a neighborhood, and providing a place for us all to gather, ” said Max Brown, Chairman of the Board of Events DC. “Amid rapid change in our city, we are confident the space can become a true blend of the square’s past and future.”
“A partnership with Apple would be a tremendous opportunity for Events DC, for the Historical Society, and for the District,” said Gregory A. O’Dell, president and chief executive officer of Events DC. “Not only can this new partnership cement the Shaw neighborhood as a convention and entertainment district in the city, but it can also drive economic impact with substantial revenue opportunities.”
The proposed arrangement calls for Apple to lease portions of the Carnegie Library’s ground floor and basement levels under a 10 year lease, with two five-year options to renew; Apple will pay market rent and operating expenses, consistent with comparable retail space in the vicinity of the building; Apple will make an up-front payment to Events DC at the commencement of the lease term in consideration of the estimated lost revenue from Events DC’s events at the Carnegie Library during Apple’s development period; Events DC will have certain rights to use non-retail areas of the Carnegie Library for special events; and, Apple will co-locate in the Carnegie Library with the existing tenant, The Historical Society of Washington.
The Carnegie Library opened its doors in 1903, one of thousands of libraries funded by steel industry titan Andrew Carnegie, with the distinction of being the first fully-integrated public building in Washington, DC. In 1999 Congress granted $2 million and a 99-year lease to the Historical Society to use the building as a history museum about Washington, D.C. After $20 million of renovations funded by local donors, the Library has served as the home of the Historical Society’s exhibits, public programs, and renowned Kiplinger Research Library since 2003. The Library has been an integral part of the two-hundred-year history of Mt. Vernon Square, a fast growing area that has recently seen the construction of the Marriott Marquis Washington DC, Convention Center retail program, as well a host of new restaurants, retailers, and housing developments.
“We are pleased that Apple is considering becoming our new neighbor at the Carnegie Library,” said Julie B. Koczela, Chair of the Board of Trustees. “If the agreement with Events DC becomes final, we will look forward to working collaboratively with Apple and Events DC on new changes for the Carnegie Library.”
ABOUT EVENTS DC
Events DC, the official convention and sports authority for the District of Columbia, deliver premier event services and flexible venues across the nation’s capital. Leveraging the power of a world-class destination and creating amazing attendee experiences, Events DC generates economic and community benefits through the attraction and promotion of business, athletic, entertainment and cultural activities. Events DC oversees the Walter E. Washington Convention Center, an anchor of the District’s hospitality and tourism economy that generates over $400 million annually in total economic impact, and the historic Carnegie Library at Mt. Vernon Square. Events DC manages the Stadium-Armory campus, which includes Robert F. Kennedy Memorial Stadium and surrounding Festival Grounds, the non-military functions of the DC Armory and Maloof Skate Park at RFK Stadium. Events DC also built and now serves as landlord for Nationals Park, the first LEED-certified major professional sports stadium in the United States. The most recent addition is Gateway DC, an innovative and versatile space featuring a covered and open-air pavilion in the center of a 1-acre park, conveniently located in the Congress Heights neighborhood of Washington, DC. For more information, please visit http://www.eventsdc.com or and find us on social media – Facebook (Events DC), Twitter (@TheEventsDC and Instagram (@EventsDC).
ABOUT THE HISTORICAL SOCIETY OF WASHINGTON, D.C.
The Historical Society of Washington, D.C., is a community-supported educational and research organization that collects, interprets, and shares the history of our nation’s capital. Founded in 1894, the Historical Society serves a diverse audience through its collections, public programs, exhibitions, and publications. The Historical Society’s galleries and research library are located in the historic Carnegie Library at Mt. Vernon Square, 801 K Street NW. The Historical Society offers exhibitions and programs throughout the year encouraging the collection of local history as well as the documentation of contemporary D.C. To support exhibitions and related programming at the Historical Society and to learn more visit dchistory.org.
For the original version on PRWeb visit: http://www.prweb.com/releases/2016/12/prweb13915996.htm