Covington & Burling, one of the city’s largest and most prestigious law firms, has signed a letter of intent to move its global headquarters from Pennsylvania Avenue to CityCenter DC, the law firm said Wednesday.

Covington has more than 500 lawyers in Washington and has been looking for around 400,000 square feet, making it one of the largest and most valuable leases in the region. The developers of the $950 million CityCenter project, including Hines, Archstone and the sovereign wealth fund of Qatar, were competing with other developers for the lease.

D.C. Mayor Vincent Gray’s economic development team has decided to restart the development process for Hill East after the economic crisis hampered an earlier attempt by his predecessor, Adrian Fenty.

Previously referred to as Reservation 13, the 50-acre site is considered extremely valuable because of its location between the Capitol Hill neighborhood and the Anacostia River waterfront. It is adjacent to RFK Stadium and the Stadium-Armory Metro station.

The Justice Department has ended a 10-month investigation into lending discrimination claims at Cardinal Bank in McLean, according to a Securities and Exchange Commission filing issued Monday.

Cardinal, a $2.6 billion-asset bank with 27 branches primarily in Northern Virginia, was accused of failing to serve minority communities equitably following its 2004 acquisition of George Mason Mortgage. The Justice Department informed the bank on May 11 that it had concluded its review and had no intentions of filing a lawsuit.

“We cooperated fully, provided all of the information and in the end I guess that’s what did it,” said Bernard Clineburg, chairman and chief executive of Cardinal.

Monday Properties has landed a $238 million financing package for six Rosslyn office buildings from Starwood Property Trust, a real estate investment trust.

The buildings are part of a 3 million-square-foot commercial portfolio that Monday Properties owns with Goldman Sachs, after Goldman acquired a 78.5 percent stake in the portfolio last November.

Daniel Rippeteau, principal of Rippeteau Architects, proposes using the Hoover site for a new monument paying tribute to the nation’s love of oil. “Drill the seat of power,” he said. (Daniel Rippeteau/Rippeteau Architects) In this week’s Capital Business, we asked local architects to show us what they’d do with the FBI’s Hoover building if they could remake it without heeding any restrictions, even the 1910 Height Act.

Now it’s your turn: Reimagine the Washington skyline or a notable D.C. building. Make a drawing (see below) and submit it to us by emailing it to tellus@washingtonpost.com, tweet it to us at @CapitalBiz, or post it on our Facebook page. We’ll feature some of the best entries.

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