D.C. Federation Buys $15M Building
The Jewish Federation of Greater Washington is purchasing a $15.75 million building for its new headquarters.
The federation’s board last week approved the purchase of the building, which is near its current headquarters in Rockville, Md., the Washington Jewish Week reported. The building is to house the federation, rental tenants – Jewish nonprofits and foundations, in particular – and a conference center.
Federation officials said they have a fundraising goal of $7.5 million to reduce the 15-year cost of the building, and have secured $6 million in commitments. The purchase comes as donations to the federation have been down in recent years, leading to staff cuts and a decrease in allocations to local agencies.
In talking points published on theWashington Jewish Week’s website, the federation said that renovation options for the current building were limited and that donors interested in supporting the new purchase “told us that their funding is not available for the annual campaign or other unrestricted uses by the community.”