Golden Triangle Marks A Year of Transition, Growth and Reinvention

First major office to residential conversion in DC’s downtown followed by plans for 7 more conversions

 Washington, DC (Feb 3, 2025) — A record number of building conversions are happening in the Golden Triangle, with new apartments and hotels coming to the western portion of DC’s downtown that previously was mostly office space.

Fresh off the success of the Elle conversion – a former Peace Corps federal government space that was converted into apartments last summer – there are an additional five office to residential conversions planned throughout the neighborhood. Two more office buildings are set to become hotels.

That’s a highlight from a new 2024 recap by the Golden Triangle Business Improvement District, which posted a year-in-review summary just as there is a larger push by the District to incentivize more conversions as part of the post-pandemic shift to a mix of in person and remote work.

“Golden Triangle is an important area of downtown DC that is realizing the potential of a more balanced mix of uses,” said Deputy Mayor for Planning and Economic Development Nina Albert. “Under Mayor Bowser’s leadership, we will continue to reposition downtown by filling the space with new businesses, changing the space with new housing, and bringing the people through world-class destinations and events.”

“This has been one of the most fast-paced environments for constructive change that I’ve seen in a long time,” said Leona Agouridis, President of the Golden Triangle BID. “We’re welcoming this evolution as a community and not just envisioning a premier mixed-use neighborhood, but with all of this change in motion, we’re becoming one today.”

The year-end recap from the BID showed that the neighborhood had 18 properties sold in 2024, for a combined total of $702.4 million worth of transactions.

There were also notable new tenants that moved into the Golden Triangle, including two prominent venture capital firms, Andreessen Horowitz and The Westly Group, adding to DC’s growing tech ecosystem. These Silicon Valley firms setting up shop in DC reflects increasing demand to locate near federal policy makers and regulators – in this case shaping the future of AI and tech.

The year-in-review also showed that 2024 was a hallmark year for the BID’s new effort to focus on arts as a preeminent part of the community. In 2024, the BID was home to Artomatic, the Capital Fringe Festival, Rorschach Theatre, and a pop-up Morton Fine Art Gallery.

Finally, the recap showcases dozens of new retailers and restaurants opening their doors in the Golden Triangle in 2024, including high end restaurants, coffee and juice shops, new retail and fitness options and even two new barbershops. The BID was also home to a Rent the Runway pop-up, bringing in even more shoppers.

The transformation happening now aligns with goals presented in the Downtown Action Plan, released in early 2024 by the Golden Triangle and DowntownDC BIDs in collaboration with Mayor Muriel Bowser and her team. The Golden Triangle is emerging as a premier mixed-use community in accordance with the plan’s recommendations to increase downtown’s residential base, create cultural and entertainment corridors, enhance the public realm, and grow the technology and innovation economy.

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About the Golden Triangle Business Improvement District

Formed in 1998, the Golden Triangle Business Improvement District (BID) enhances Washington, DC’s central business district, the 44-square-block neighborhood stretching from The White House to Dupont Circle. For more information, visit goldentriangledc.com and follow the BID on X (Twitter), Facebook, Instagram, and LinkedIn.

 

Media Contacts
Karyn Le Blanc at 202-497-4572; karyn.leblanc@kglcommunications.com, or Vince Morris at 202-503-6802; vince.morris@kglcommunications.com