Big Doings at Woodies Building
Release Date: Wednesday, February 24th 2010
Trendy retail apparel outlet Forever 21 is slated to replace west elm in the historic Woodie's building.
west elm (1020 G Street), the furniture retailer known for its trademark loft-style designs at affordable prices, will close its first flagship store in March 2010, citing disappointing sales as the reason. The store currently occupies 40,000 square feet (SF) in the historic Woodward & Lothrop building. Forever 21, a Los Angeles-based retailer, signed a lease with Douglas Development (702 H Street) more than a year ago to occupy about 25,000 SF over two floors in the building. With west elm departing, the clothing chain will now occupy 65,000 SF over three floors at its first DC location.
west elm opened in August 2007, after receiving $5 million in Downtown Retail Tax Increment Financing (TIF), making it possible for the furniture store to join forces with Douglas Development. According to the Washington Business Journal, Douglas Development is working with the city to transfer the TIF to Forever 21. It is uncertain whether the change requires legislation. Together with H&M (1025 F Street) and Zara (1025 F Street), Forever 21 will create a bustling shoppers’ goods destination in Downtown.
More information about Forever 21, the popular teen and young adult store, is available atwww.forever21.com.
