The Covid-19 pandemic has had a major negative impact on the commercial real estate market in the District of Columbia, hitting especially hard the downtown area as explained by the Washington Post’s Emily Davies and Michael Brice-Saddler in a recent article:
“The coronavirus pandemic has accelerated the vacancy rate in the central business district, forcing city leaders to consider drastic alternatives to fill unused office space. They’ve focused on attracting university researchers and medical professionals. Some are even pushing to convert commercial buildings into residences.”
The recent trend has continued a pattern seen before the virus interrupted American society. According to the Post:
“The question of whether the 9-to-5 ethos of downtown Washington will return after a year of mostly virtual work looms large as the city looks toward recovery from the pandemic. The mass exodus to makeshift home offices has led many businesses to reconsider whether they need large and expensive offices. The trend is exacerbating the emptying of downtown as organizations were already downsizing office space in the city’s core and some were moving to cheaper, newer buildings in the region before the pandemic.”
The glut of empty office space creates a tremendous opportunity for the District’s charter schools, which faced an intractable facility shortage as late as the beginning of 2020. The problem led to the creation of the End The List campaign that sought the release of surplus DCPS properties to charters as a way to end an 11,000 student wait list to gain admission to schools.
Now that properties are available and landlords are seeking alternative uses to office space, it is up to D.C.’s charter support organizations to buy these buildings so that new charters will have homes or as a method to provide existing charters places to expand and replicate.
I’m thinking that the logical group to take this bold move is Building Hope. But others can play this part operating on their own or in cooperation with others. I’m thinking of the DC PCSB, Education Forward, and CityBridge Education getting into the act. Perhaps the Walton Foundation can join the effort.
In 2019, I took a tour of Chicago’s Noble Public Charter School Muchin College Prep campus that is located next to the Loop, a couple of blocks from the Art Institute. It is in a high-rise office tower. You might think that it was strange entering such a structure to visit a school but once inside it appeared no different than other classroom buildings. I have to say that it was exciting to be in this busy area of town intermingled with business people. It provides a great example of what kids can aspire to become later in life.
The same experience can be replicated for students in the nation’s capital. The Post article adds,
“D.C. business owners who for decades have thrived with corporate life downtown are desperate for customers to return.”
The time to act is now.