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DC Pays $11 Million To Redevelop Gym Into Housing

Purchase Comes as Apartment Rents Near Record High
The city of Washington, D.C., acquired Balance Gym’s downtown location. (CoStar)
The city of Washington, D.C., acquired Balance Gym’s downtown location. (CoStar)

The city of Washington, D.C., paid $11 million to purchase a former gym with the aim of turning it into housing, potentially for the homeless, public documents show. The deal comes as market apartment rents have increased to near record highs.

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