WASHINGTON, DC—The $220-million Skyland Town Center has secured Walmart as its lead tenant, according to Mayor Vincent Gray.
The $220-million venture, being developed by the District and development partner led by Rappaport and WC Smith, signed a long-term lease with Walmart this week. The project broke ground eight months ago but its future was uncertain due to the prolonged lease talks with Walmart, according to the Washington Business Journal.
"I am delighted that Walmart has committed to opening a store in a neighborhood that has been under-served for too long," Mayor Gray said in a statement.
Skyland will when fully built out include 476 residential units and 342,000 square feet of retail. The first phase of the project will feature the Walmart store, 100,000 square feet of additional retail and 250 apartments is expected to take up to 27 months to complete. Walmart is not scheduled to open until sometime in 2017. See story in the Washington Business Journal.
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