Carr to redevelop former office building in Foggy Bottom into a 320-unit luxury multifamily community, further advancing the company’s residential development strategy.
Carr Properties, a leading owner, operator, and developer of premium office and residential properties, today announced the acquisition of 2121 Virginia Avenue NW, a prime site in Washington, D.C.’s Foggy Bottom neighborhood. Carr will redevelop the vacant nine-story Class B office property, formerly owned by the Pan American Health Organization (PAHO), into an approximately 320-unit luxury multifamily community designed to meet the evolving lifestyle needs of Washington’s residents. The redevelopment will include the preservation of the existing below-grade garage and the creation of a modern residential property that reflects Carr’s signature focus on thoughtful design, engaging moments, and distinguished hospitality.
“Our acquisition of 2121 Virginia Avenue NW continues Carr’s strategic expansion into residential development and our on-going investment in Washington, D.C.,” said Oliver Carr, Chief Executive Officer of Carr Properties. “Building on the success of The Elm in Bethesda and our current development projects at 425 Montgomery Street in Alexandria, VA and 3033 Wilson in Arlington, VA, this investment allows us to bring our hospitality-driven approach to a dynamic neighborhood that is experiencing strong housing demand and limited new supply. We are proud to create a new residential community that complements Foggy Bottom’s rich mix of culture, education, and innovation.”
Located steps from George Washington University, the Kennedy Center, and the State Department, 2121 Virginia Avenue sits at the nexus of the District’s educational, cultural, and employment centers. The redevelopment will deliver campus-adjacent luxury housing that provides residents with exceptional access to Metro, major employers, and D.C.’s West End and downtown neighborhoods.
The project will offer approximately 320 luxury residences with 33 designated affordable units, designed to serve a diverse community of residents—ranging from professionals, researchers, and students affiliated with nearby institutions including George Washington University and Hospital, to young Washingtonians seeking a connected, urban lifestyle in one of the city’s most walkable neighborhoods. Upon completion, residents will enjoy an exceptional suite of top-tier amenities, including a roof deck and rooftop pool with panoramic views of the Washington Monument, a state-of-the-art fitness center, thoughtfully designed lounge area, and convenient on-site parking for 70 vehicles.
The 2121 Virginia Avenue redevelopment is the latest addition to Carr’s growing portfolio of office-to-residential redevelopment projects, a key component of the company’s strategy to reimagine and revitalize underutilized properties in high-demand urban locations. Alongside active developments including 425 Montgomery Street in Alexandria, VA and 3033 Wilson in Arlington, VA, the Foggy Bottom acquisition reflects Carr’s ongoing commitment to creating vibrant, livable communities that integrate design excellence, sustainability, and hospitality.
Carr plans to begin demolition in Q2 2026, with design and construction milestones to be announced as the project advances. Savills Parker Lange, Vernon Knarr and Julie Rayfield represented the seller on the transaction.