Money from the sale of the property will fund financial aid for students in programs on the Mount Vernon Campus.
The George Washington University announced Monday that it will sell its residential property on W Street near its Mount Vernon Campus.
Proceeds of the sale will be directed to fund financial aid for students associated with programs on the Mount Vernon Campus, including the Women's Leadership Program and University Honors Program.
“Selling the W Street House presents an opportunity for the university to continue to invest in financial aid, supporting our students so they can take full advantage of a GW education regardless of financial resources,” said Provost Forrest Maltzman.
GW acquired the W Street House with the Mount Vernon Campus (then the Mount Vernon College) in 1999 and turned it into a residence for university leadership. The three-story home, at 4535 W St., NW, which was originally constructed in 1966, most recently has served as the provost's residence.
The property has been vacant since former Provost Steven Lerman stepped down from his role at the end of 2015.
“Because the W Street House is currently vacant, it was a natural time for the university to consider the long-term strategy for the property. In this case, we decided that it was in the university’s best interest to offer the property for sale. As with all of GW’s real estate activities, revenue generated from this sale will support the academic mission of the university,” said Alicia Knight, senior associate vice president for operations.
Washington Fine Properties has been chosen to market the six-bedroom home and represent the university in the sale.