Newseum Building Being Sold to Johns Hopkins for $372.5 Million
The Newseum building is being sold for $372.5 million to Johns Hopkins University, after a year-plus review of the media museum's "unsustainable operating costs," said its creator, Freedom Forum. The forum has committed more than $600 million for the museum,…
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and said the property will remain open to the public through the year. Newseum Chair Peter Prichard said it's "ready to continue much of the Newseum’s important work for decades to come -- through digital outreach, traveling exhibits, and web-based programs in schools around the world, as well as hopefully in a new physical home in the area." Finding a new space is the museum's preference, said a spokesperson. Johns Hopkins "will use the building as a new consolidated center for its DC-based graduate programs," the Freedom Forum said Friday. The museum declined further comment. For the new owner, "transforming" 555 Pennsylvania Ave. NW "will require a significant renovation, as well as a number of required reviews and approvals by regulatory agencies," the university said. "Construction could begin as soon as the fall of 2020 and will take about two and half years." JHU plans to keep operating the property's restaurant and residences "as commercial entities" in their current form, and it's buying the entire property, a university spokesperson emailed us. "The intention is to consolidate our DC presence there. We expect to eventually sell our current DC properties."