Potomac Yard future: With area deal useless, what comes subsequent?

Alexandria says the longer term improvement of the undeveloped land will possible be a a lot smaller undertaking than the Monumental area proposal.

ALEXANDRIA, Va. — The Washington Capitals and Wizards are staying in D.C. That means negotiations to deliver an leisure area to Potomac Yard are over. Meanwhile, Alexandria City leaders are tasked with determining what to do with the land that was presupposed to be the positioning of the sector.

It’s not clear precisely what’s subsequent for the acres of undeveloped land, however Stephanie Landrum, CEO and President of Alexandria’s Economic Development Partnership tells WUSA9 the plan for the realm will possible nonetheless be leisure primarily based. 

“Think about arts and tradition. That will be performing arts, music, that might be a museum, it might be different leisure,” stated Landrum. 

Landrum provides that with the sector deal out of the image, the usage of the undeveloped land is proscribed, and a future undertaking would possible be a lot smaller than the Monumental proposal. That’s as a result of the property the place the sector was presupposed to be constructed is owned by developer JBG Smit, the identical firm that lately partnered with Amazon to design and develop HQ2 in Arlington. 

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JBG Smith owns the land the place the favored Potomac Yard Target retail retailer sits. Landrum says the sector deal was so massive, the developer was keen to barter with Target to maneuver the shop to a unique location. With the sector deal now useless, that possible will not occur, which means the land can be off limits for a number of years as Target finishes out a 20 12 months lease. 

The metropolis is having conversations with different potential tenants that might deliver a robust and distinctive business financial impression to the realm. 

“The factor that was so enticing to monumental was that it is sitting at a model new Metro station. I do assume that is meant to be a vacation spot within the area and the perfect tenant for us to search out is one thing that does not exist already within the area,” stated Landrum. 

Andrew MacDonald helped type the Stop the Arena Coalition. He and different Alexandria residents pushed to maintain Monumental Sports in D.C. The group says regardless of the future holds for the house, it hopes the method is clear and includes the group. 

“I feel working intently with everybody in the neighborhood is the one technique to redevelop anyplace, however particularly a spot like Potomac Yard,” stated MacDonald. 

City leaders say conversations about improvement in Potomac Yard are prone to play out over the following a number of years. 

RELATED: DC Council approves first vote on Monumental deal to maintain Wizards, Caps within the District

RELATED: Monumental Sports reaches deal to maintain Wizards, Caps in DC, supply tells WUSA9

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