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JBG Smith Reevaluates Plans for Potomac Yard
JBG Smith Properties is reevaluating plans for Potomac Yard following the collapse of the basketball and hockey arena deal, Washington Business Journal reported. While CEO Matt Kelly remains optimistic about the site’s potential, he indicated that the company is now pursuing alternative options for a major entertainment anchor.
The failed arena project validated the location’s attractiveness, prompting JBG Smith to seek another development. The company owns the 12-acre site in a joint venture with SBC Master Pension Trust. Although previous plans included office and residential buildings, Kelly hinted at a new vision for the site, emphasizing the need for flexibility in response to market dynamics.
With the nearby Virginia Tech Innovation Campus and Amazon’s HQ2 driving growth, JBG Smith aims to capitalize on the area’s evolving landscape to create a vibrant, mixed-use destination.
- ◦Development
