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Wednesday, March 8, 2017

JBG backs out of plans to redevelop Beauregard Corridor

JBG Cos. will not go forward with plans to develop a mixed-use project on two blocks along Beauregard Street in Alexandria’s West End.

Instead, the company plans to sell the properties it owns on the Beauregard Corridor, AlexandriaNews reports. Those properties include the Shops at Mark Center and six residential projects – Brookdale, Hillwood, Lynbrook, MeadowCreek, StoneRidge, and Willow Run – at Mark Center.

The decision to sell those properties stems from JBG’s merger last fall with Vornado Realty Trust’s Washington, D.C., properties to form a commercial real estate investment trust called JBG Smith Properties.

The withdrawal of JBG casts a shadow over the City of Alexandria’s plan to redevelop the Beauregard Corridor. The Alexandria City Council approved the Beauregard Small Area Plan in 2012 calling for the creation of a town center and mixed-use retail and commercial projects to replace the aging garden apartments along the corridor.

Last summer JBG submitted a revised concept plan calling for a smaller mixed-use project than it originally proposed.

“JBG’s merger with Vornado has changed the dynamics and plans for development projects in both companies’ portfolios,” Stephanie Landrum, the president and CEO of the Alexandria Economic Development Partnership, states in the AlexandriaNews article. “We continue to work with JBG as they are invested in many neighborhoods of the city and are happy to talk to other investors and developers looking at the Beauregard/Mark Center portfolio.”

According to Alexandria Vice Mayor Justin Wilson, it’s hard to tell what the impact will be. “Our hope is that a purchaser will be largely bought into the approved plan,” he said, “but there is a risk that a purchaser would want to pursue a by-right redevelopment, or request changes from the city.”

7 comments:

  1. Very disappointing.

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  2. Great. South Arlington, Mason District, Route 1/395 corridor will remain dumpy.

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  3. Jeez, back to the drawing board. Talk about being taken for a ride!

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  4. You can thank our Fairfax County political leaders of 30 years ago who allowed a bigoted constituency to block Metro from going down Columbia Pike. As a result developers do not want to invest in Mason and the Beauregard Corridor because potential residents and businesses need Metro, even as bad as the service is, its a conduit to major employment centers and a natural catalyst for development.

    Because of the poor judgements of thees past by political leaders who more interested in their job security than doing the right thing, we are now being penalized by the development community that does not want to touch Mason or the Lincolnia area with a 10' pole.

    We are now left with rental buildings with section 8 housing, boarding houses, shuttered businesses, vacant lots and a fleeing tax base. Fairfax County and Arlington County need to make bold moves as was done for the Dulles Corridor and put Metro or some form of CONVENIENT mass transit on line and bit the bullet, don't (not busses that sit in traffic) to get a stronger tax base back into this area. Otherwise we will continue to be the Section 8, Homeless Shelters and the MS-13 Gang mecca of Fairfax County.

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  5. Too bad, I live in this area and it's still a dump, nobody wants to get some real development here!

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    1. Anon 8:25. You do realized this is Alexandria, NOT Fairfax. This side of the area has its very own issues which are different. Not everything going on is related to Penny and the Fairfax BoS. Like the Mason District, this area has its issues, but they are not the same. For example, the blight that is the Landmark Mall is not Penny's issue. Both of these items are caused by Alexandria dragging their feet until the developers give up. I waited for a fix for Landmark for 15 years before I gave up and moved to a place where developers want to do work and things get done. Perhaps if the people in the Alexandria and Mason areas would rise up and support development rather than fighting it (see Cell Tower and DMV issues), then perhaps developers would be able to help remove the blight. But unfortunately there are some very loud neighbors in that area that work very hard to shut down progress and they have been successful. People shut down the DMV because it would fill a long vacant slot and increase traffic. Well, if you want developers to be interested in a project, you need to increase traffic. Good luck with things in that area as I really don't have any confidence in the neighbors allowing progress to happen.

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    2. Wow, what a blithering idiot you are. By staving off the DMV, we are getting a Glory Days instead in the exact same spot. I'm all for new development, but not DMVs in small shopping centers. I'm very glad that we did not capitulate on this issue.

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