IU Foundation acquires Washington D.C. building for students, research
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Indiana University announced today the acquisition of an eight-story facility in Washington D.C., that will put students and researchers at the heart of U.S. government and policymaking.
The facility, which the IU Foundation recently bought to lease to IU, will provide space for classrooms, student housing, research, business operations, and speakers and events, the university said.
“This building represents a major step forward in our vision for IU as a national and global leader,” IU President Pamela Whitten said in a news release. “It will open new doors for our students by making new and potentially life-changing experiences available. It will create new opportunities for us to highlight IU innovation for national and international policymakers, extending the impact of that research.”
Located at 1619 Massachusetts Ave. NW in the Dupont Circle neighborhood, the building sits near numerous embassies, other universities’ facilities and the headquarters of national organizations, IU said.
It will provide housing for students in IU’s Washington-based programs, which have had no dedicated housing or residential services.
The building is expected to lower costs compared with existing leases of space for IU business operations and academic needs, according to the university.
The purchase price and amount of total investment into the property was undisclosed in the news release. But foundation spokesman Larry Costello confirmed a $17.5 million sales price that was reported by other media.
Tax records available online indicate that Johns Hopkins University earlier owned the building, and its taxable value was slightly more than $43 million.
The acquisition of the building has been in the works since soon after Whitten took over as president in 2021, IU said, and builds on Washington opportunities for students. Programs include the Washington, D.C., Accelerator Program and the Washington Leadership Program through the Paul H. O’Neill School of Public and Environmental Affairs and the D.C. Global Leadership Forum through the Hamilton Lugar School of Global and International Studies.
Additional plans for the building’s use and IU’s presence in the Capitol are expected to develop over the coming academic year, IU said.
The building is expected to be ready for occupancy in early 2026, pending approval from the IU Board of Trustees on a lease agreement between IU and the IU Foundation.