WASHINGTON: Blocks from the White House, an unassuming edifice in downtown Washington that once held offices used by the US Department of Justice is set to be converted into homes for hundreds of people.
The transformation of the vacant office space is among a surge of “adaptive reuse” projects that swept the US property market in 2021, where developers bought hotels and offices that were struggling to get business and announced plans to turn them into apartments.
“The market spoke, and it said the value was greater for a conversion than for it continuing as office space,” said Michael Abrams, managing director of Foulger-Pratt, the property development firm that is…
