The Raleigh Hotel closed in 1954, and by 1965 developer Jerry Wolman had purchased the site and proposed building the current structure. It was one of the first structures built under the Pennsylvania Avenue redevelopment plan approved in 1964, and the first private building to be built. Because of restrictions imposed by the Pennsylvania Avenue National Historic Site legislation, Wolman agreed to move the building line back from Pennsylvania Avenue by and keep the building's height to, although in exchange for the loss of interior square footage District of Columbia zoning officials gave him permission to cantilever the building over the sidewalk on 12th Street at a height about above the street. Named the Presidential Building, the structure was designed by Edmund W. Dreyfuss & Associates in the Brutalist style. Dreyfuss worked closely on the building with John Woodbridge, a staff architect for the President's Council on Pennsylvania Avenue and a member of the firm Skidmore, Owings and Merrill. The President's Council chairman was Nathaniel A. Owings, a partner in that firm. The building was completed in mid-1968, and originally had of interior space. Its address at this time was 415 12th Street NW. The District of Columbia Public Schools leased seven of the floors in the building, with other District government offices renting the remaining space.
2002 renovation
Purchased by local surgeon Laszlo Tauber, one of the richest men in the D.C. area, the structure underwent a $40 million renovation between 2000 and 2002. It was the last private building on Pennsylvania Avenue to be renovated under the Pennsylvania Avenue Development Corporation's 1974 redevelopment plan. The facade was replaced with a Postmodern style more in tune with the nearby Evening Star building addition next to it on Pennsylvania Avenue, and two stories were added. The total interior space increased from to. The front entrance was moved from 12th Street NW to Pennsylvania Avenue NW, and the address changed to 1111 Pennsylvania Avenue NW. The architect of record for the structural renovations was Shalom Baranes Associates. Studios Architecture designed the interiors. An existed between the renovated structure and the Evening Star building addition to the east. In order to create natural light in the office windows facing the Evening Star building, Studios Architecture built a light pipe—a,, prism designed to convey natural sunlight down to all floors and into all offices. On cloudy days and at night, the light pipe is artificially illuminated with a rainbow of colors. The law firm of Morgan, Lewis & Bockius leased the entire building in 2002, and signed a long-term lease renewal in 2014.