ARLINGTON, VA-MRP Realty and the JBG Cos., are partnering to building an ambitious 1.9 million-square-foot mixed-use project here. The companies have already broken ground on the supporting infrastructure for the project.
There will be a mix of office, hotel, residential and retail uses, says Frederick Rothmeijer, a founding principal of MRP Realty, in a prepared statement. In addition, “The Exchange at Potomac Yard will be served by the area’s only Bus Rapid Transit system and will be adjacent to a future Metro stop, making it accessible to all.” MRP Realty was not able to return a call to GlobeSt.com in time for publication.
Specs for the project call for a town center, approximately 800,000 square feet of office and hotel space, and 534 residences. The hotels will offer a combined 625 rooms and there will be more than 100,000-square feet of retail. There will also be a seasonal ice skating rink. The 17-acre development is located about one mile from Reagan National Airport, bridging the Arlington and Alexandria communities.
The companies broke ground on the development’s infrastructure in December 2011. Construction for the first 323 residences is slated to start in the second quarter of 2012.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
