UIP buys former Watergate stakeout for residential development

Urban Investment Partners announced the purchase of the 10-story building for $36 million
  • Urban Investment Planning bought the old George Washington University dorm building to develop into a mixed-use building named Boathouse.
  • Developers will add 40,000 square feet of new space to create a total of 250 apartment units, an amenity deck and a ground level coffee shop.

History and political buffs may be in store for their ideal place to live. The building that once housed a Howard Johnson hotel and was used as a stakeout location for the Watergate scandal — owned by George Washington University in recent years — will now get a new lease on life as an apartment complex.