One year after submitting plans to the City of Alexandria, Va. for a mix of affordable and market-rate rental and for-sale homes in Potomac Yard, JBG SMITH has received approvals to develop 640 new apartments and townhomes across four vacant parcels in the area. The Alexandria City Council unanimously approved special-use permits for the new housing units at a Saturday meeting.
The residences will be built adjacent to the Potomac Yard Metro station. Timelines and costs for the three projects were not disclosed.
In the largest project at the Northern Virginia site, JBG SMITH will develop 432 market-rate units in a seven-story, 480,533-square-foot building on Landbay G, Parcels E & B. The property, which will have ground-floor retail, is located at 2900-2901 Potomac Ave., just south of a Target store.
The Bethesda, Md.-based firm has selected Wesley Housing Development Corp. to provide 88 units of dedicated affordable housing in two- and three-bedroom units across a six-story, 108,269-square-foot building on Landbay G, Parcel G. The firm donated the site, located at 601 E. Glebe Road. Apartments will be available to households making between 30 percent and 80 percent of the area median income, according to the Washington Business Journal.
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JBG SMITH also selected Toll Brothers to build 120 single-family townhome units totaling 316,800 square feet on Landbay H at 2601 Main Line Blvd.
The development plan also includes more than 30,000 square feet of open space and 13,000 square feet of retail.
Building out Potomac Yard
Taylor Lawch, co-head of development at JBG SMITH, said in a statement that the mixed-use development is designed to bring much-needed rental, affordable and family-friendly for-sale housing to the neighborhood. Lawch said these projects will culminate 25 years of development in the southern section of Potomac Yard, a former rail yard that has been undergoing redevelopment since the 1990s.
The area is anchored in part by Virgina Tech’s Innovation Campus, which opened its first academic building at the site in February of this year. The site is also close to Amazon’s HQ2 and Reagan National Airport.
When JBG Smith unveiled its plans for Potomac Yard a year ago, it called for more than 750 new multifamily, townhome and affordable units.
Conversion quests
Potomac Yard is one of three neighborhoods that comprise the mixed-use National Landing community, where approximately 75 percent of JBG SMITH’s holdings are located. The firm’s overall portfolio in Metro Washington D.C., includes 11.8 million square feet of multifamily, office and retail assets.
In July, JBG SMITH received approval from Arlington County to transform two vacant office buildings totaling 550,000 square feet in the National Landing area into a mixed-use property with a 195-unit apartment community and 344-key hotel. The apartments will be built at 2220 Crystal Drive, and the office building at 2100 Crystal Drive will be transformed into a dual branded-hotel with lifestyle and extended-stay options.
Other developments from the firm include Valen, a 25-story, 355-unit tower at 2000 S. Bell St.
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