In November, Northern Virginia rocketed to the front of the commercial real estate world when Amazon announced it would build its second headquarters in the newly named National Landing, a long strip of office buildings and infill space along the Potomac River.
Alexandria’s Potomac Yard neighborhood landed a massive innovation campus from Virginia Tech, as well as a host of office leases looking to build on the HQ2 momentum.
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But Alexandria’s real estate story extends far beyond Potomac Yard. In the city’s heart, known as Old Town, developers are carving out space for new apartments and office space alongside buildings that date back centuries.
At its waterfront, the city is pursuing an urban redevelopment project to open up new parkland, entertainment venues and condominiums. And along Eisenhower Avenue, along the southern rim of the Beltway, master-planned shopping centers are finding new neighbors in the form of office towers, senior living communities and, in the not-too-distant future, a Wegmans supermarket.
With a population that was expanding quickly long before Amazon made its announcement, Alexandria will almost certainly face unprecedented strain on its housing, land and services once the tech giant’s employees are fully moved in.
Plans are being debated on how to improve public transit, easing commutes within the city as well as between Alexandria and the District. Land prices have already risen dramatically, and time will tell how the city will handle the burden of so many new residents, whether they work for Amazon or not.
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