On The Move

Buildings are powerful symbols. For many in the IBEW, they are the end product of what we do.

Your International Union leadership has decided that the needs of the IBEW, including financial considerations, have made this the time for the IBEW to have a new home.

After careful consideration and considerable research, we have sold our current building at 1125 15th Street, N.W. in Washington, D.C., and are purchasing a new structure that will better suit the IBEWs needs and represent responsible stewardship of our Brotherhoods resources.

The IBEW has had a number of headquarters in its history. Past leaders have made the decision to move based on practical and financial reasons, just as we have done today. We have worked out of our current location since 1970. For more than 30 years, it has served us well. But just as our leaders then had the vision to obtain a new headquarters, so too the financial well-being of the Brotherhood and the need for a modern facility to serve our membership made it clear that another move is in the best interests of the IBEW.

Our current International Office building is in need of a major renovation. To make the needed repairs and technological upgrades would have cost in the vicinity of $50 million. The lack of a upgraded facility along with the amount of space we occupy in the current building has reduced the amount of rental income we have been able to generate. These factors were leaving us in a position that was not good for our operations.

The current building has been sold for $66 million, far more than we expected. The investment that the IBEW leadership undertook in 1970 proved to be a wise one, with real estate in prime locations in downtown Washington selling at a premium.

The move makes financial sense when we factor in the amount we made from the sale of the current building along with a restructuring of our operations in our future headquarters. Our new building, now entering the final stages of construction, is located at 900 Seventh Street, N.W., in Washingtons Chinatown neighborhood. This once struggling area has seen a dramatic rebirth in recent years and is now one of the most desirable locations for organizations seeking downtown offices.

The amount of square footage that the IBEW staff will occupy will be reduced, allowing us to maximize our income from rentals. We already have solid or likely commitments to fill the entire building.

Taken together, the proceeds from the sale of the 15th Street building along with the expected rental income at the new building will actually generate a net financial gain for the Brotherhood.

The National Electrical Benefit Fund is a proud investor in the new building. Part of the NEBFs Project Millennium, this real estate investment symbolizes the high quality construction and investment return NEBF trustees demand. This project has been putting local union building tradesincluding members of IBEW Locals 26, 70 and 1900to work, while protecting pension dollars for current and future retirees.

The decision to move was a business decision, but it will be more than that. Readers of the Journal have seen articles in recent years about how many of our locals have opened new state-of-the-art headquarters and training facilities. These facilities are more than just bricks, concrete, glass and wires. They are solid investments for our union and points of pride for our members.

So too, the new International Office will serve as a symbol of the IBEW and all that we are and can be for the future. Our new headquarters will have state-of-the-art electrical and VDV systems. It will be partially powered by solar panels. It will house new and expanded archives of the Brotherhood. It will be a new address and a new era for the IBEW.

And wouldnt it be great if our move in early 2005 coincides with a change of occupant at another Washington locationthe White House?

  Presidents Message

April 2004 IBEW Journal