The Securities and Exchange Commission will be sticking with its longtime home near Union Station, at least for another three-plus years.
That’s how long it could take the winning bidder to develop a new headquarters for the federal agency, depending on the outcome of a search the General Services Administration kicked off in 2017 for up to 1.3 million square feet, according to SEC spokesman John Nester. It’s not a foregone conclusion the SEC will end up moving, as the commission is heavily invested in its current headquarters and isn’t under any pressure from Congress to reduce its footprint, keeping a long-term lease renewal on the table.
The commission had hoped to have a new lease starting in December 2022, but the search has been complicated by a number of factors. That includes a delay securing approval from its oversight committee in the Senate as well as a pair of ongoing bid protests. Now, Nester said, the GSA estimates it could take until September 2023 to have a new headquarters…Read the full story from the Washington Business Journal.