Johns Hopkins University recently purchased the Newseum building – located at 555 Pennsylvania Avenue. The Newseum, a popular museum dedicated to media and press, placed the property on the market in 2018.
Hopkins made the purchase for $372.5 million to relocate its School of Advanced International Studies and to merge the existing Hopkins buildings located on Embassy Row in Washington, D.C. to create one combined D.C. campus for the Baltimore-based institution. Transforming the museum into an academic space for all Hopkins’ DC-based buildings will be a large undertaking – with construction scheduled to end around 2023.
Businesses in the adjoining neighborhood, which is a stone’s throw from the Capitol complex, should anticipate an uptick of over 3,300 staff and students once the new campus opens – likely boosting foot traffic and real estate costs.
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