US abandons plan to swap obsolete buildings

Washington, DC

THE federal government is abandoning a plan to trade some of its most obsolete buildings along Independence Avenue, south of the Mall, after officials said they were unable to come to an agreement with developers.

More than three years ago, the General Services Administration, which manages real estate for the federal government, began seeking private-sector firms interested in redeveloping part or all of the area. The agency proposed a swap - as it has in trying to build FBI headquarters - in which proceeds from the project would be used to complete the construction of GSA headquarters west of the White House.