In a long anticipated move, the City of Alexandria has approved the final phase of the massive Potomac Yard Redevelopment. Known more formally as the North Potomac Yard Small Area plan, the vote provides the framework to turn the Potomac Yard Retail Center into a 69-acre, 7.5 million sq. ft., mixed-use, transit-oriented development.
The retail center, a huge draw for District and Virginia residents alike is anchored on one end by Shoppers Food Warehouse and on the other end by Target. Other shops include PetSmart, Barnes & Noble, and Staples. These stores will be rebuilt/restructured/redesigned according to development guidelines.
The bottom line however, is that the plan density was structured and approved in order to support construction of a new Metro stop in Alexandria. Although completion of the stop is years away, approval of the plan will quickly begin to reshape this particular stretch of the Route 1 corridor, one of the most heavily traveled areas in Northern Virginia.
According to the press release from the City of Alexandria, “The plan prioritizes multiple transportation options and an array of cultural, educational and recreational opportunities located next to a proposed new Metrorail station.
The North Potomac Yard Urban Design Standards balance the need for providing sufficient densities near the proposed Metrorail station and for mitigating impacts to the surrounding neighborhoods. Standards also specify quality design elements such as building materials, retail storefronts, signage, streetwalls, setbacks and building height variation.
These elements all support the plan’s vision for creating an urban community with a compelling and lasting identity.”
We are looking for increased interest and activity at Potomac Greens and in areas of Arlandria that have lagged behind the boom that Del Ray has experienced over the past 10 years. Rather than complain, it’s a great time to look at new opportunities, both commercial and residential.
Give me a call at 703.927.4554 and let’s find your opportunity.