Metro News Release

For immediate release: April 17, 2003

Metro Board agrees to Joint Development projects with Howard University

Two small parcels of Metro-owned property near the Shaw-Howard University Metrorail station in the District of Columbia that are currently used as automobile sales lots will soon be developed by Howard University.Today, the Metro Board of Directors agreed to enter into a sales agreement that will see Howard University develop a 3,800 square foot parcel and an 8,600 foot parcel, located between 8th and 9th Streets, NW, with frontage along Florida Avenue. The project will complement Howard University’s development plans for the LeDroit Park area.Howard is planning to construct an 11,400-square-foot office building with 1,900 square feet of ground floor retail space and four parking spaces on the smaller lot. On the larger parcel, Howard has proposed a multi-family residential building with 25 mixed-income rental units and eight parking spaces.Plans call for Howard University to complete the projects within 18 months after the agreement is signed with Metro officials.

News release issued on April 17, 2003.