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Amazon's HQ2 Decision
RESEARCH JULY 2019 AMAZON’S HQ2: AN UPDATE ON ITS IMPACT ON THE WASHINGTON COMMERCIAL REAL ESTATE MARKET AMAZON HAS ARRIVED PROJECT’S PUBLIC COST AND INCENTIVES More than seven months after announcing its decision to locate one half of its “HQ2” in National Landing, Amazon’s plans for its new campus are • Amazon will receive $550 million in workforce cash grants coming into focus. Amazon has signed leases at four buildings in from the Commonwealth of Virginia for the creation of National Landing totaling approximately 585,000 square feet. Amazon 25,000 new jobs. Additionally, Amazon can receive up to has moved into 47,512 square feet at 2345 Crystal Drive as it quickly $200 million in grants if it delivers on an additional 12,850 begins its hiring process for HQ2, and will occupy 88,000 square feet at jobs beyond the initial requirement. 241 18th Street South, 191,000 square feet at 1800 South Bell Street and 258,000 square feet at 1770 Crystal Drive as renovations at each location • Amazon will receive a cash grant of $23 million from finish. Working with JBG Smith, the largest property owner in National Arlington County for the incremental growth of an existing Landing and Amazon’s development partner, property manager and retail local Transient Occupancy Tax over the next 15 years. leasing agent, Amazon has begun to build out its workforce. Amazon is investing upwards of $95 million in tenant renovations. Notably, 1770 • The Commonwealth of Virginia has pledged $250 million Crystal Drive, where it will occupy the entirety of the 258,000 square foot towards Virginia Tech’s $1 billion investment in a new building, will make up a majority of the renovations, accounting for $80 campus proximate to Amazon’s new headquarters, which million of the total amount. -
With the Announcement November 13 That Amazon Will Be Coming Both to Crystal City and Queens, We Enter a New Era of Development
FAQ About Amazon coming to Northern Virginia With the announcement November 13 that Amazon will be coming both to Crystal City and Queens, we enter a new era of development. 1) Where will Amazon offices be located? Amazon’s initial development plans focus on JBG SMITH-owned properties in Crystal City and Pentagon City in Arlington County, while the new Virginia Tech Innovation Campus will be developed in the Alexandria portion of the National Landing site. At first, they are going to lease some space above the ‘old post office’ at 1750 Crystal Drive and 241 18th Street. The tower at 1750 will remain office space and be renamed 1770. The County approved JBG Smith plans for development of the Crystal Square block at its October 2018 meeting. They will be building a brand new office building in MetPark (where the Pentagon car pool was) on the corner of 15th and S. Eads Street, although this will require rezoning from residential to office. They will also be building out PenPlace in the block bounded by 12th Street, Army Navy Drive, S. Fern and S. Eads Streets. Amazon is buying both the MetPark and PenPlace locations from JBG-Smith instead of renting after construction. 2) Where is National Landing? JBG-Smith has dubbed the combined area of Pentagon City/Crystal City/Potomac Yard “National Landing.” See their site NationalLanding.com for a virtual tour of the area. The individual neighborhoods will retain their local names. Amazon will invest approximately $2.5 billion to establish a new headquarters in National Landing, which will create more than 25,000 high paying jobs and occupy 4 million square feet of energy-efficient office space with the opportunity to expand to 8 million square feet over the next 12 years. -
Hq2 Impact Research & Analysis National Landing–Va
HQ2 IMPACT RESEARCH & ANALYSIS NATIONAL LANDING–VA AMAZON BACKGROUND In 1994, Jeff Bezos started Amazon in Seattle, WA, as an of commercial property in the nation. At its current growth online bookstore out of his garage, delivering books pace, Amazon will control more than one square foot of himself. Time magazine named Bezos the “Person of distribution space for every adult U.S. shopper by 2022. the Year” in 1999 when it recognized the company’s success in popularizing online shopping. After the Great The online retailer’s headquarters is located in the South Recession Amazon began to show its potential, attracting Lake Union neighborhood of Seattle, dubbed “Amazonia,” 615 million annual visitors to its website, while employing which encompasses over 8.1 million square feet of space in 17,000 people with real estate holdings encompassing 33 buildings and houses over 45,000 employees. Amazon 12 million square feet in 2008. Amazon has evolved into drove unprecedented job growth in Seattle, completely the largest Internet retailer in the world as measured by revitalized neighborhoods around its campus, and sparked revenue and market capitalization, surpassing $1.0 trillion an urban residential development boom. However, in value last September. Amazon’s rapid growth has also strained Seattle’s housing market, contributed to growing traffic congestion, Today, the world’s largest retailer employs over 575,000 full- and placed pressure on its public transportation system. and part-time workers and controls more than 158 million square feet of leased and owned office, industrial, and KING COUNTY MEDIAN SINGLE FAMILY HOME SALE PRICE retail property in the United States. -
MARKET SQUARE - NATIONAL LANDING ROUTE 1 & SOUTH GLEBE ROAD, ARLINGTON, VIRGINIA 22202, ARLINGTON COUNTY This Retail Project Is Sandwiched Between HQ2 And
MARKET SQUARE - NATIONAL LANDING ROUTE 1 & SOUTH GLEBE ROAD, ARLINGTON, VIRGINIA 22202, ARLINGTON COUNTY This retail project is sandwiched between HQ2 and INNOVATION CAMPUS JOIN THESE RETAILERS RETAIL FOR LEASE • This retail project is sandwiched between Amazon’s HQ2 and Virginia Tech’s Innovation Hub. • Located at the gateway to National Landing, a mixed use development of 5,000 housing units, 3 million SF of office, retail and hotels. • Market Square development includes The Eclipse, 464 luxury condos & apartments between $200,000 - $1 million, located directly above the retail space. • Transit stop located at site and nearby Metro stop. • Easy and abundant indoor parking. • Signage on Route 1 & South Glebe Road. FORREST MORRILL JAKE LEVIN DALLON L. CHENEY [email protected] | 703-268-2707 [email protected] | 202-909-6102 [email protected] | 703-268-2703 klnb.com MARKET SQUARE - NATIONAL LANDING LOCATION ROUTE 1 & SOUTH GLEBE ROAD, ARLINGTON, VIRGINIA 22202, ARLINGTON COUNTY AVAILABLE SPACE: SIZE RATE CONDITION DELIVERY EST. NNN 1,966 SF $42.00 VANILLA SHELL/ IMMEDIATE $9.34PSF PSF NNN NEGOTIABLE 7,413 SF NEGOTIABLE “AS-IS” (MEDICAL IMMEDIATE $9.34PSF OFFICE BUILD-OUT) DEMOGRAPHICS | 2018: 1-MILE 3-MILE 5-MILE Population 25,038 184,900 670,064 Daytime Population 12,678 125,172 745,523 Households 11,452 89,559 315,280 Average HH Income $120,570 $132,972 $124,808 CLICK TO DOWNLOAD DEMOGRAPHIC REPORT TRAFFIC COUNTS | 2017: Route 1 43,000 ADT S Glebe Road 23,000 ADT FORREST MORRILL JAKE LEVIN DALLON L. CHENEY [email protected] | 703-268-2707 [email protected] | 202-909-6102 [email protected] | 703-268-2703 MARKET SQUARE - NATIONAL LANDING SITE PLAN ROUTE 1 & SOUTH GLEBE ROAD, ARLINGTON, VIRGINIA 22202, ARLINGTON COUNTY AVAILABLE SPACE SIZE RATE CONDITION DELIVERY 1,966 SF $42.00 PSF VANILLA SHELL/ IMMEDIATE NEGOTIABLE 7,413 SF NEGOTIABLE “AS-IS” IMMEDIATE (MEDICAL OFFICE BUILD-OUT) *EST. -
Recommendation to Eliminate Regional Metrobus Routes 9B Hunting Towers/Crystal City and 10P Mount Vernon Avenue Crystal City
Approval of Staff Report and Recommendation to Eliminate Regional Metrobus Routes 9B Hunting Towers/Crystal City and 10P Mount Vernon Avenue Crystal City Executive Summary: • On February 16, 2006 the Board authorized staff to conduct a public hearing on the proposal to eliminate regional routes 9B Hunting Towers/Crystal City and 10P Mount Vernon Avenue/Crystal City. • Both routes have performed poorly since their inception • 9B averages 248 daily passenger and five passengers per trip. • 10P averages 460 daily passenger and 10 passengers per trip. • Alexandria Transit Company (DASH) is implementing two new routes (AT10 & AT11) that provide replacement service for routes 9B and 10P, and provides Saturday service. • Alternative service is available via Metrobus routes 9A, 9E, 9S 10A, 10B,10E. Public Hearing The Public Hearing was held on March 9, 2006 at the Charles Houston Recreation Center in Alexandria, Virginia. • 11 persons attended the hearing, three witnesses testified for the record. In addition one petition with 20 signatures and five e-mails were received for the record. • All three witnesses, four of the e-mails, and the petition opposed the elimination of one or both routes. Budget: FY 2007 Cost ($1,256,000) Revenue 125,000 Subsidy ($1,131,000) Recommendation: • Approve the staff report and recommendation to eliminate regional routes 9B Hunting Towers/Crystal City and 10P Mount Vernon Avenue/Crystal City. • If approved service will be discontinued June 25, 2006. 1 Subsidy Allocation Breakdown Annual Jurisdiction Impact District of Columbia ($133,000) Montgomery County ($76,000) Prince George’s ($73,000) County Alexandria ($629,000) Arlington County ($150,000) Fairfax City ($2,000) Fairfax County ($66,000) Falls Church ($2,000) Total ($1,131,000) 2 Staff Report and Recommendations on Proposed Elimination of Regional Metrobus Routes 9B and 10P (Docket No. -
ITEM 9 January 3, 2019 PRTC Regular Meeting PRTC Executive
ITEM 9 January 3, 2019 PRTC Regular Meeting PRTC Executive Director’s Time A. INFO Follow-Up from Prior Meeting B. INFO Executive Director’s Report Industry Article – Amazon’s HQ2 Decision Summary: Amazon’s HQ2 Decision Was Always About Transit Original Article by Laura Bliss, appeared in City Lab November 20, 2018 https://www.citylab.com/transportation/2018/11/amazon-hq2-chose-transit-new-york-dc-subway- metro-mta/575932/ Crystal City was a low-density semi-industrial area until the 1970s when it became connected with Metrorail. After that, there was a rapid development - mostly high-rise offices. It’s not very walkable, composed mostly of “superblocks.” Urbanists complain it lacks street facing retail. Instead, Crystal City has a large underground mall. It also has a fair amount of excess office space. Employment in the area has fallen by as many as tens of thousands of employees as employers such as the Department of Defense and the U.S. Patents Office have decamped for more distant suburbs. For pedestrians, cyclists and drivers alike, Crystal City has never been the easiest neighborhood to navigate – and Amazon’s looming arrival in the neighborhood has stoked fears that things could get worse in the area long before they get better. But now that the tech giant has officially picked Arlington for its new headquarters, county officials are free to unveil their grand plans for allaying those concerns and fundamentally transforming transportation options along the Crystal City – Pentagon City – Potomac Yard corridor. Arlington County has made a major commitment to transportation demand management. -
Potomac Yard/Potomac Greens
POTOMAC YARD/POTOMAC GREENS SMALL AREA PLAN ADOPTED 1992 MASTER PLAN ALEXANDRIA, VIRGINIA Amended-11/24/1992 Ordinance #3603 Amended-11/18/1995 Ordinance #3836 POTOMAC YARD/POTOMAC GREENS SMALL AREA PLAN The listing of City Officials and Staff from the original adopted version of this Small Area Plan does not reflect current appointments and therefore is not included in this online version. POTOMAC YARD/POTOMAC GREENS SMALL AREA PLAN AMENDED PAGE NUMBERS 67 68 73 74 TABLE OF CONTENTS PURPOSE OF THE PLAN Background and Issues Description of the Area 1 Area History 1 Demographics 3 Existing Land Use 3 Existing Zoning 5 Existing Height Limits 7 Environmental Conditions 9 Additional Factors Affecting Development 12 Land Use Policy History 15 Transportation 19 Land Use and Urban Design Analysis 34 Land Use Plan Concept 40 Development Parameters 46 Plan Recommendations Goals and Objectives 57 CDD Principles 68 Developm ent W ithout A CDD Special Use Permit 72 LIST OF MAPS 1. Study Area 2 2. Existing Land Use 4 3. Existing Zoning 6 4. Existing Heights 8 5. Constraints 10 6. Wetlands Preservation Area 11 7. National Airport Noise Contours 13 8. 1974 Master Plan 16 9. Opportunities 38 10. Distances from Metro Stations 39 11. Land Use Concept 42 12. Open Space Concept 43 13. Neighborhoods 45 14. General Character of Residential Areas 49 15. Predominant Height Limits for COD 55 16. 1974 Master Plan 58 17. Land Use Changes 59 18. Proposed Land Use 60 19. Existing Zoning 61 20. Zoning Changes 62 21. Proposed Zoning 63 22. -
CAPITAL REGION RAIL VISION from Baltimore to Richmond, Creating a More Unified, Competitive, Modern Rail Network
Report CAPITAL REGION RAIL VISION From Baltimore to Richmond, Creating a More Unified, Competitive, Modern Rail Network DECEMBER 2020 CONTENTS EXECUTIVE SUMMARY 3 EXISTING REGIONAL RAIL NETWORK 10 THE VISION 26 BIDIRECTIONAL RUN-THROUGH SERVICE 28 EXPANDED SERVICE 29 SEAMLESS RIDER EXPERIENCE 30 SUPERIOR OPERATIONAL INTEGRATION 30 CAPITAL INVESTMENT PROGRAM 31 VISION ANALYSIS 32 IMPLEMENTATION AND NEXT STEPS 47 KEY STAKEHOLDER IMPLEMENTATION ROLES 48 NEXT STEPS 51 APPENDICES 55 EXECUTIVE SUMMARY The decisions that we as a region make in the next five years will determine whether a more coordinated, integrated regional rail network continues as a viable possibility or remains a missed opportunity. The Capital Region’s economic and global Railway Express (VRE) and Amtrak—leaves us far from CAPITAL REGION RAIL NETWORK competitiveness hinges on the ability for residents of all incomes to have easy and Perryville Martinsburg reliable access to superb transit—a key factor Baltimore Frederick Penn Station in attracting and retaining talent pre- and Camden post-pandemic, as well as employers’ location Yards decisions. While expansive, the regional rail network represents an untapped resource. Washington The Capital Region Rail Vision charts a course Union Station to transform the regional rail network into a globally competitive asset that enables a more Broad Run / Airport inclusive and equitable region where all can be proud to live, work, grow a family and build a business. Spotsylvania to Richmond Main Street Station Relative to most domestic peer regions, our rail network is superior in terms of both distance covered and scope of service, with over 335 total miles of rail lines1 and more world-class service. -
Quarterly Market Report
1 Northern Virginia Quarterly Market Report 1st Quarter 2020 lpcwashingtondc.com Northern Virginia Leasing & Market Research Neil Alt Senior Vice President [email protected] | 703.284.5868 Doug McLearn Senior Vice President [email protected] | 703.284.5862 Gary Cook Table of Contents Senior Vice President [email protected] | 703.284.3379 Chris Dyson Metropolitan D.C. Market Overview .....................................3 Senior Vice President Northern Virginia Quarterly Overview .................................5 [email protected] | 703.284.3633 Northern Virginia Top Ten Leases ........................................ 8 Eamon McCrann Senior Vice President Northern Virginia Sales Transactions................................... 9 [email protected] | 703.284.5861 Jae Lee Market Spotlight, 1Q 2020: Senior Vice President [email protected] | 202.513.6700 Northern Virginia .................................................................. 11 Alexandria ............................................................................. 13 Stoddie Nibley Senior Vice President Fairfax .................................................................................... 15 [email protected] | 703.284.5884 Loudoun County ................................................................. 17 Correll Caulfield Merrifield ...............................................................................19 Vice President [email protected] | 703.284.5886 National Landing ................................................................ 21 Jed Prossner Old Town Alexandria/Eisenhower Avenue..................23 -
Amazon HQ2 and Northern Virginia
VIEWPOINT WASHINGTON-BALTIMORE RESEARCH What are the impacts? Amazon HQ2 and the Northern Virginia and D.C. markets Amazon plans to split its new HQ2 headquarters between Crystal City in Arlington, Virginia and Long Island City in Queens, New York. It anticipates creating 25,000 jobs and occupying 4 million sq. ft. of office space in each city over the next 10 years. This is a watershed development for the Washington, D.C. and Northern Virginia markets and it indicates the importance of walkable environments, quality access to transit and infrastructure for major employers. More importantly, it confirms the strength of the D.C. region’s talent. 19 NOVEMBER 2018 CBRE Research © 2018 CBRE Inc.| 1 VIEWPOINT WASHINGTON-BALTIMORE RESEARCH EXECUTIVE SUMMARY The key impacts on the Northern Virginia and D.C. markets are as follows: • Amazon’s 4 million-sq.-ft. requirement would account for 33% of Crystal City’s existing office inventory, and its 25,000 employees would comprise 11% of the D.C. region’s tech1 labor market. • The average annual wage for tech employees in the D.C. region is $106,500, which Amazon has announced it will well exceed at $150,000. • Amazon’s 25,000 employees would generate about 50,000 additional jobs in indirect industries and in retail, housing and services. This could jump to as many as 125,000 indirect jobs depending on the composition of Amazon employees, Amazon’s local spending and its employee spending patterns. • Office demand totaling 7 million sq. ft. could occur from indirect job growth. In 2017, Northern Virginia’s annual net absorption totaled 2.3 million sq. -
North Potomac Yard Small Area Plan
North Potomac Yard Small Area Plan Creating a Complete Sustainable Community Table of Contents Acknowledgements Master Plan Overview 1. Vision and Guiding Principles ........................................................ 3 Vision Statement Guiding Principles Creating a Complete, Sustainable Community Environmental Sustainability Economic Sustainability Social Sustainability 2. Sustainability ................................................................................... 9 Recommendations 3. Urban Design – Plan Framework ................................................ 13 A. Urban Design Framework B. Framework Streets and Street Hierarchy C. Creation of Three Distinct Urban Neighborhoods D. Gateways and Vistas E. Urban and Building Form F. Public Art and History Recommendations 4. Land Use ....................................................................................... 25 A. Balancing Land Uses B. Neighborhood Land Use Strategy C. Land Use—Future Zoning (Coordinated Development District) D. Retail Uses E. Adjacent Redevelopment Site F. Building Height G. Parking Strategy H. Open Space I. Housing J. Development Summary Recommendations 5. Community Facilities .................................................................... 51 A. Projected Demographics B. Collocation, Flexibility, and Incentives C. Community Facilities D. Implementation of Community Facilities Recommendations North Potomac Yard Small Area Plan i 6. Transportation ............................................................................... 57 A. Transportation -
Retail Brochure
AT 1100 N. FAYETTE STREET | ALEXANDRIA, VA AT 1100 N. FAYETTE STREET ALEXANDRIA, VA Platform is a mixed-use development in North Old Town Alexandria, just south of Potomac Yard and a 5-minute drive to Historic Old Town Alexandria, with 628 residential units to deliver in multiple phases. Three vented restaurant opportunities, which are ideal spaces for casual neighborhood eateries with potential for 3 additional service retail tenants fronted by a 1 acre park. An under served neighborhood has excellent potential for residential growth on the horizon. Situated near the Braddock Road Metro Station and not too far from National Landing, which includes Amazon HQ2 and the VA Tech Innovation Campus. DEMOGRAPHICS 2020 1 MILE 3 MILES 5 MILES POPULATION 31,466 168,716 501,849 DAYTIME POPULATION 41,021 191,557 520,086 HOUSEHOLD INCOME $191,136 $154,340 $124,051 TRAFFIC COUNTS 47,000 ON ROUTE 1 AREA RETAILERS ARLINGTON NATIONAL CEMETERY PENTAGON CITY RONALD REGAN WASHINGTON NATIONAL AIRPORT NATIONAL LANDING VIRGINIA TECH INNOVATION CENTER CAMPUS DISTRICT OF COLUMBIA POTOMAC YARD 1100 N. FAYETTE STREET ALEXANDRIA, VA VIRGINIA OLD TOWN ALEXANDRIA 1100 N. FAYETTE STREET ALEXANDRIA, VA SITE PLAN OVERVIEW PLATFORM AT 1100 N. FAYETTE STREET | ALEXANDRIA, VA PHASE 2 BUILDINGS 1 & 2 BUILDING 2 WMATA TRACKS PHASE 3 N PAYNE STREET BUILDINGS 3 & 4 BUILDING 1 BUILDING 3 BUILDING 4 PARK STREET N FAYETTE STREET S LANE SLATER 1200 N HENRY STREET SITE PLAN: BUILDING 1 PLATFORM AT 1100 N. FAYETTE STREET | ALEXANDRIA, VA 2,038 2,508 SF AVAILABLE +47.00' +47.00' +47.00' FUTURE RETAIL CORRIDOR AVAILABLE 2,038 SF AVAILABLE 1 5 0 .