Annex on 12th Wins Best Conversion Award

Annex on 12th has earned the Best Conversion Award in the Washington Business Journal’s 2024 Best Real Estate Deals, highlighting its success as an adaptive reuse project. Originally built in 1936 as the U.S. Department of Agriculture’s Cotton Annex, the property underwent a strategic redevelopment led by Douglas Development before being sold to Carmel Partners in 2021.

The conversion was completed in late 2024, transforming the 120,000-square-foot historic building into 562 upscale apartments, along with ground-level retail and parking, just one block from the National Mall.

This transformation demonstrates the potential of reimagining underutilized federal buildings. The design carefully balanced historic preservation with modern luxury, incorporating amenities like a rooftop infinity pool, fitness center with yoga and spin studios, and a lounge with sweeping city views. As more federal properties are released for redevelopment, Annex on 12th stands as a model for how thoughtful adaptive reuse can breathe new life into historic architecture while contributing to the evolving residential landscape of downtown Washington, D.C.

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