555 Pennsylvania Avenue Update 07/09/22

Johns Hopkins Acquires Newseum Residences for $70M

Johns Hopkins completed its acquisition of the Newseum last week by acquiring the residential portion of the property. They initially paid $302.5 million for the commercial portion of the Newseum property in June of 2020, and the remaining $70 million piece, the 135-unit Newseum Residences, sold last week.

Renovations are ongoing since the sale in 2020, with the University planning to open the new campus in fall 2023. Much of that work, estimated to cost over $200 million, involves changing the facade and entrances to open up the interior space, as well as increase the natural lighting,

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