Events DC has announced that its board of directors and Apple have finalized terms for the official convention and sports authority for the District of Columbia to execute a lease with the Cupertino, California-based company for the establishment of a retail store.
Under the lease terms, the location will be at Carnegie Library at Mt. Vernon Square, the center of a newly transformed convention and entertainment district in downtown DC. What’s more, a Tri-Party Agreement among Events DC, Apple and the Historical Society of Washington, D.C. will also be executed, memorializing a co-location of Apple and the Historical Society as part of the reimagined vision at Carnegie Library.
“The partnership between Events DC and Apple demonstrates an innovative approach to preserving the historic character of our world-renowned Carnegie Library while creating a cultural experience that welcomes residents from across the District of Columbia and visitors around the world,” said Mayor Muriel Bowser in a press release. “We look forward to the Carnegie Library re-opening its doors as a destination in DC's Other Mall - our thriving retail center in the central business district.”
Within the signed agreement, Apple will lease a portion of the Carnegie Library, comprising approximately 19,000 square feet of interior space. The tech giant will also have the same rights to program its portion of the building and grounds as agreed upon in the letter of intent. The lease term is 10 years with two five-year options. The Historical Society, under its existing 99-year lease, will continue to operate its museum and library in the building, with approximately 13,000 square feet of space on the basement level, second and third floors.
“This collaboration is about more than simply bringing another retail space into downtown. It showcases how a neighborhood can undergo rapid transformation while adopting the essential characteristics required to move forward into a new century,” said Max Brown, chairman of Events DC Board of Directors. “As part of its philanthropic efforts, Apple will also empower local youth with job-training and educational programming. Through this collaboration, Apple’s investment in the neighborhood will stimulate additional activity and spending in the area to ensure that the community will continue to thrive.”
The Carnegie Library has served as the home of the Historical Society’s museum and library since 2003. The Library is a part of the 200-year history of Mt. Vernon Square, a fast-growing area that has recently seen the construction of the Marriott Marquis Washington DC, Convention Center retail program, as well a host of new restaurants, retailers, and housing developments.
With the opening of the store, Apple will have 500 retail stores in 23 countries and an online store available in 39 countries.