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Coworking network and incubator 1776 will close its Lafayette Square location in Washington D.C. at the end of the month.
This is the second time the company has shut down a D.C.-area location. In 2018, the firm closed its 15th Street space after closing its Crystal City and Arlington, Virginia locations. However, it reopened in D.C. at its current location and added an incubator in North Bethesda, Maryland.
“While we were hopeful that demand for the downtown D.C. market would pick up in 2021 as both vaccine distribution and interest in working in close proximity to the White House increased, we sadly have not seen significant changes and had to make the tough call to leave the District,” said Melissa Rucci, Director of Strategy at 1776.
Rucci added that the company views this a temporary departure, but was unable to identify an exact timeline of when 1776 could return to the area.
The company will continue to operate its spaces in Philadelphia and Indianapolis.
The Washington D.C. Economic Development Partnerships’ annual Development Report shows that the coworking industry as a whole has struggled in the market over the past year. For instance, the report found that WeWork closed three of its D.C. locations last year, with plans to shutter four more in 2021.
