Officials announced the hiring of a property advisory firm to aid the process of selling The Aston, a New Hampshire Avenue residence hall, in a release Monday.
The University said they will work with Savills, a London-based real estate firm, to sell the building by the fall, a goal that GW said depends on market interest and the quality of offers from potential buyers. Vice President of Finance and Treasurer Bruno Fernandes said The Aston’s distance from campus and the current demand for housing in the District led the University to put the building on the market.
“The Aston has been a valuable asset to the university for many years, but its off-campus location is not ideal for student residences,” Fernandes said. “The strong demand for well-located multifamily properties in Washington, D.C., renders this a perfect time to market the property in support of our broader academic goals.”
The University first housed undergraduates in The Aston when they bought the property in 1996, but converted the building into law student housing in 2007. Officials moved juniors and seniors back into The Aston in 2019 while Thurston Hall underwent renovations.
However, dozens of Aston residents complained to officials about ongoing maintenance issues on the property like water outages, flooding and lapses in security in early April. The University issued a $250 housing credit to residents shortly after in an email response, partially attributing the problems to the building’s old plumbing system.
“We recognize there have been other challenges not addressed here throughout the year that have caused frustration and intermittent disruptions that may be affecting your overall living experience,” officials said in the email sent to Aston residents.
This article appeared in the May 19, 2022 issue of the Hatchet.