Last Friday, National Public Radio dedicated its new 400,000-square-foot world headquarters in Washington. We sold our old facility in a prime real-estate zone at the peak of the market, a transaction named by business press as the “sale of the year.”
We bought into a blighted neighborhood that the District of Columbia was seeking to revive by freezing real estate taxes for 20 years, and financed the $200 million building — where Chesapeake & Potomac Telephone Co. once distributed phone booths — at record-low borrowing rates, from the sale of our old building and through the generosity of our donors. We received no government funds except for $5 million to move the satellite distribution system that serves the nationwide public radio system.
Subscribers get total access to this story, and all our in-depth news, digital editions and exclusive content. Subscribe today, or try a 24-hour or 7-day digital pass.
Registered Post Subscriber — Sign me in.Sign In
Post Print Subscriber — I need to register my account for digital access.Access Digital
All Day Access — 24-hour digital pass99¢ for 24 hours
All Week Access — 7-day digital pass$3.99 for 7 days
All Access, All the Time — Print & DigitalView Offers
Richard Rampell is an accountant in Palm Beach. He serves on the NPR Foundation Board of Trustees.