Boilermaker Building

Washington, DC
  • $22.3 million
  • $3.8 million Federal Historic Tax Credit equity investment
  • $5.6 million New Markets Tax Credit equity and loan
  • $7.5 million construction loan
  • $4.2 million New Markets Tax Credit loan
NTCIC Contact:
Andrae Baly abaly@ntcic.com
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Background

Constructed between 1917 and 1919 by the Department of Public Works as part of a larger industrial complex called the Navy Yard Annex, the Boilermaker Building was originally used to manufacture boilers for Navy ships.

The Project

The building is part of phase one of The Yards project, which will blend adaptive re-use of a total of five historically protected, former industrial buildings that were originally part of the Washington Navy Yard. The completed renovation has created a 46,000 square foot, 2-level mixed-use building.

Community Impact

The Boilermaker Building is located in an area that is undergoing a dynamic transition from a heavy industrial center into a major hub of mixed-use development. The completed project provides approximately 30,000 square feet of retail and restaurant space for the area’s growing residential population, which currently lacks adequate ground-floor retail options. The Boilermaker Shop project has generated more than 214 direct and indirect/induced jobs, $9.4 million in household income, and $1.1 million in local taxes.