Owner and developer JBG SMITH has announced plans to start demolition and infrastructure work in Alexandria’s Potomac Yard this month on a new 1.7 million-square-foot innovation district anchored by the $1 billion Virginia Tech Innovation Campus. The project will be adjacent to the planned new Potomac Yard Metro Station.
For Virginia Tech’s portion of the development square footage, the university will proceed with construction of their first phase of a 300,000-square-foot educational and research building. The university’s 11-story academic building will house instruction, research, office, and support spaces for masters and doctoral graduate programs. Virginia Tech is slated to begin construction next summer, with occupancy expected in 2024.
“It is a testament to the importance of this initiative, and the determination of our project partners, that we were able to navigate this complicated approval process in the midst of a global pandemic,” said Kai Reynolds, Chief Development Officer at JBG SMITH. “We are grateful to our colleagues at Virginia Tech for presenting such a bold and compelling vision for its new urban innovation campus, and to the dedicated Alexandria City staff for embracing that vision, even as the world shifted around us.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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