Proposal Incorporates More Than 750 Units of Much-Needed Affordable Housing, Multifamily Residential and For-Sale Townhomes
BETHESDA, MD – JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today announced that it has submitted plans to the City of Alexandria to develop more than 750 new multifamily, townhome and committed Affordable units in Potomac Yard.
JBG SMITH’s plan addresses the region’s acute need for quality housing options near mass transit by providing a diverse blend of housing types across four vacant, under-utilized parcels in proximity to the Potomac Yard Metro station. These buildings will complete a quarter century of development within the southern portion of Potomac Yard.
On Landbay G Parcels E/B, JBG SMITH is proposing approximately 550 units (~684,000 square feet) of multifamily residential. The units would be spread across two 7-story buildings.
On Landbay G Parcel G, JBG SMITH is proposing approximately 100 units (~128,000 square feet) of on-site dedicated Affordable Housing.
On Landbay H, JBG SMITH is proposing approximately 116 single-family townhome units (~336,000 square feet). The for-sale townhomes would comprise 80 16 x 42-foot units and 36 20 x 42-foot units.
"We are eager to kick off the City of Alexandria's robust review and input process and look forward to engaging with members of the community," said Taylor Lawch, Senior Vice President of Development at JBG SMITH. “The region is in desperate need of new housing. Our proposal seeks to provide a healthy mix of rental, for-sale and dedicated Affordable Housing options for those who wish to call Potomac Yard home, no matter their budget or household size. In addition, this plan will generate significant additional tax revenues that will be used to help pay for the new Metro station at Potomac Yard, while also maintaining and strengthening the quality of local resident services.”
Strategically located just south of Reagan National Airport and within close proximity to Amazon’s HQ2, Potomac Yard has benefitted from an infusion of public and private investment in recent years. The neighborhood is anchored in part by Virginia Tech’s Innovation Campus, which will open its first academic building, an 11-story, 300,000 square-foot structure, in 2025.
In addition, the Potomac Yard-VT Metrorail Station now provides blue and yellow line service to the area. Adjoining the metro station are various land improvements to facilitate the growth of long-term urban development in Potomac Yard, including the 4.5-acre Potomac Yard Park extension (existing 20+ acres) that was dedicated to the City of Alexandria in October 2024, and the Innovation District Pump Station that was delivered to Alexandria in December 2023.
JBG SMITH will be holding an introductory community meeting on December 16 at 7 p.m. in the Paris A Conference room on the 7th floor at the American Physical Therapy Association’s Headquarters, located at 3030 Potomac Ave Alexandria, VA 22305. Parking is available free of charge in the surface parking lot located at 2900 Potomac Avenue between E. Glebe Road and Seaton Avenue. This is the first of multiple meetings to occur during the entitlement process where the public is invited to attend, ask questions and provide feedback as the design progresses.
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