Georgetown University recently acquired an office building at 500 First Street NW, located directly south of the Georgetown University Law Center. The university paid $70 million for the building according to an agreement posted to the D.C. Recorder of Deeds.
The acquisition of the building will be beneficial for the entire Georgetown community, a university spokesperson wrote in a statement to the Voice. “The new property will strengthen Georgetown’s Capitol Hill presence and create new opportunities for faculty, staff, and students across its campuses,” the spokesperson wrote.
The purchase was supported by a $10.5 million gift from Scott K. Ginsburg (L ’78), the single largest gift in the Law Center’s history, the spokesperson wrote.
The property was chosen for its ability to further connect the university to Washington D.C., the spokesperson wrote. “University leadership consulted with the Board of Directors to select a property that would expand the university’s presence, located near the Law Center and School of Continuing Studies, and further connect the academic community to the heart of Washington.”
Select centers and institutes of Georgetown Law and the McCourt School of Public Policy will be relocating to the new building. It will also house the Capitol Applied Learning Lab, a newly created program allowing Georgetown students to gain experience in policy and public service by interning, living, and taking classes downtown, as well as the new Center for Security and Emerging Technology which will analyze the security impacts of new technologies.