JBG Planning 1.2M SF Mixed-Use For Initial Phase Of North Potomac Yard Redevelopment
The JBG Cos has unveiled its plans for the initial phase of the massive redevelopment of North Potomac Yard.
The 69-acre site is owned by Houston-based Lionstone Group, and is part of the Alexandria City Council’s North Potomac Yard Small Area Plan. JBG’s goal is to have a portion of the new development complete in time for the opening of the Potomac Yard Metro Station in 2020, the Washington Business Journal reports.
Plans for the initial phase call for 1.2M SF of mixed-use development to replace the existing multiplex and surrounding parking lots. The development will include over 290k SF of retail, 732 residential units, and either 115k SF of offices or a 120-key hotel. Ultimately, JBG has its sights set on 7.5M SF of total development in a long-term effort. Streetsense is on board as the project designer.
These are the latest plans unveiled for the burgeoning Potomac Yard area. Earlier this year, StoneBridgeCarras revealed plans for a transformative mixed-use development about a quarter of a mile away from the future Metro stop. That project is set to include 1.5M SF of mixed-use development, with the first phase expected to deliver in 2019. [WBJ]