Located in historic Georgetown and adjacent to its famed canal, the Foundry Building is a longstanding brick structure certified at the LEED Silver level. The increasingly competitive nature of Washington’s real estate market compelled the Foundry’s owners to reevaluate the asset’s appeal to a changing tenant demographic. In response, OTJ was engaged to lead a renovation that would capitalize on the Foundry’s unique architecture and help realize the full value of the stakeholders’ investment.
OTJ approaches each repositioning project from the perspective of an investor. After review of the property’s market performance relative to competitors, our team proposed to reimagine an underutilized lower level as a revenue generating amenity complete with conference and fitness centers, as well as a tenant lounge and café. Reflective of contemporary hospitality concepts, this considered addition now broadens the property’s marketability by supporting the flexible workstyle and culture of wellbeing central to many of today’s fastest growing organizations. Our team also undertook an ambitious renovation of ground level common areas to infuse an outmoded space with a contemporary urban vibe.