Johns Hopkins University completed on Monday the first part of its acquisition of the former Newseum complex at 555 Pennsylvania Ave. NW, where it hopes to start work soon on a major overhaul of the property.
The $302.5 million acquisition from the Freedom Forum, which shuttered the museum dedicated to the First Amendment at the close of 2019 to make way for the transaction, was first announced nearly 18 months ago. Hopkins plans to spend another $70 million to acquire the residential portion of the complex, but that transaction is subject to the District’s Tenant Opportunity to Purchase Act and slated to be completed at a later date, according to Mitch Bonanno, chief real estate officer for Hopkins.
The Baltimore university plans to begin internal demolition work as soon as next month as the first step in its $200 million-plus renovation and conversion of the former museum into an educational facility, Bonanno said. The work is expected to take about 30 months to complete.
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