Rendering provided by Inova
Inova will be building a new hospital and trauma center in Alexandria's West End on the former Landmark Mall property.
Local health company Inova will be developing a significant portion of the Landmark Mall property, Alexandria city officials announced tonight.
There is now an "initial agreement with the City of Alexandria and Inova Health System to advance the development of the much-anticipated four million-square-foot community to include a new hospital campus at the site of the former Landmark Mall," according to a City of Alexandria announcement. The agreement is part of a joint venture with real estate company Foulger-Pratt, The Howard Hughes Corporation and Seritage Growth Properties (NYSE: SRG). Howard Hughes Corp. and Seritage own portions of the Landmark Mall property.
Landmark Mall shut down in sections, with Sears being the last business to close there in 2020. The property has been used as a filming location, a temporary home for the Carpenter's Shelter and as an Amazon distribution outpost in recent years.
The Howard Hughes Corp. had been working with the City of Alexandria on extensive plans to redevelop the entire 51-acre site into a mixed use, live-work-play community and destination, but those plans changed after the company reorganized its business priorities.
The City of Alexandria will acquire the land for the hospital and lease it to Inova. The proposal in place calls for the usage of $54 million in public bond financing for acquisition, plus $76 million in public bond financing for site preparation and infrastructure at the Landmark site and adjacent Duke Street and Van Dorn Street corridors.
According to City calculations released late Tuesday afternoon, "These investments are expected to generate $778 million in City tax revenue over the 30-year life of the bonds, which will cover the principal and interest on the bonds as well as contribute to public safety, schools, human services, transportation, environmental protection, and other expenditures in the City’s general fund."
"The proposed development would revitalize the West End of Alexandria by transforming the unoccupied, enclosed mall site into a mixed-use, walkable urban village," Alexandria officials wrote in a release sent out Tuesday afternoon.
Inova, the leading nonprofit health care provider in Northern Virginia, would invest $1 billion to create a new medical campus, anchored by the relocation and expansion of its Alexandria Hospital and more than 2,000 health care workers.
Development plans on the balance of the site include residential, retail, commercial, and entertainment offerings integrated into a cohesive neighborhood with a central plaza, a network of parks and public spaces, and a transit hub serving bus rapid transit (BRT), DASH, and Metrobus. Affordable and workforce housing would be enhanced through developer contributions and co-location with community facilities such as a new Alexandria Fire-EMS station. Construction at Landmark could begin as soon as 2023, with the first buildings delivered in 2025."
The City will be hosting community engagement meetings in January. Two virtual community information meetings will be hosted by officials and developers to provide an overview of each project and answer general questions:
- Landmark Site Redevelopment: Jan. 4, 2021, from 7 to 8:30 p.m.
- Seminary Site Rezoning: Jan. 6, 2021, from 6 to 7 p.m.
Additional information about the meetings, answers to frequently asked questions, and other materials are available at alexandriava.gov/Landmark.
Back in September, Alexandria Mayor Justin Wilson told Alexandria Living Magazine: “It is true that Howard Hughes has not been able to proceed with development. They made an announcement several months ago that they were going to be selling some properties and keeping some properties, and actually Landmark was on neither list. … Essentially, Hughes is trying to figure out whether they will sell this property or pursue a joint venture to redevelop the site.”
Wilson said at the time that he was in ongoing discussions with Howard Hughes Corp. and “other entities” related to the future of the property.
