Alexandria economic development officials said Wednesday that revitalization of both sides of Jefferson Davis Highway in the Potomac Yard area is the city’s top development priority.
Stephanie Landrum, acting executive director of the Alexandria Economic Development Partnership, told The Examiner that the city is now concentrating on completion of office and residential space at the Potomac Yard plaza, which runs from the Arlington-Alexandria border to Monroe Avenue. Landrum said the city is eyeing the industrial area west of the highway for the next phase of redevelopment in the area.
The Potomac Yard area represents an effort by Alexandria to expand redevelopment efforts beyond Old Town. According to the city, the area is the largest of 57 locations where redevelopment projects are being done. Once completed, it will add 1.8 million square feet of office space, 135,000 feet of retail space, a hotel and 1,973 residential units to the city.
Michael Stuart, economic development and marketing specialist for the development partnership, said completion of the Potomac Yard redevelopment is “years away.” However, Stuart and Landrum said that the city is working at being more proactive in identifying new areas for future development, and is looking at the industrial strip just west of Jefferson Davis Highway as a target redevelopment area.
“You always have to be aware of where the development pressure is going to come from next,” Landrum said.
Stuart said most of the businesses on the west side of the highway are car dealerships and industrial, such as plumbers and auto shops. He said he expects a large increase in the value of that land once Potomac Yard projects are completed, which might compel businessowners to sell to developers, who would convert the strip into residential and office units.
He said Alexandria offers no tax incentives for businesses to relocate to the area, but added some state programs offer tax breaks to entice businesses to come to Virginia.
