Construction to begin this spring on apartments at Potomac Yard
- February 19, 2012
CoStar Group reports that MRP Realty in Washington, D.C., and the JBG Cos. out of Chevy Chase, Md., plan to start construction on the first 323 residential units at The Exchange at Potomac Yard during the second quarter. The development, located five miles south of D.C. along Route 1 in Virginia, has been designed as a 1.9 million-square-foot, mixed-use project at the site of what was once among the busiest railroad yards on the East Coast.
Altogether, plans are for 800,000 square feet of office and hotel space, two hotels offering a combined 625 rooms, 534 residences, and about 100,000 square feet of retail. The developers want to start with apartments, because this sector has been in high demand. The project, close to a future Metro station, would cover 17 acres of the project’s total site of 167 acres.