The American Physical Therapy Association’s move from Old Town North to Potomac Yard is opening up a major redevelopment opportunity.
Washington Business Journal reported that the three buildings currently owned by APTA could be redeveloped from office to residential and arts. The three buildings are located at 1033, 1055 and 1111 N. Fairfax St. and back up to Tide Lock Park and the Potomac River (see map below; the three buildings are marked with red pins).
According to the proposal narrative that developer Community Three provided to the city, “Several special features of the project include the arts and retail uses in a standalone building prominently located along Fairfax Drive; improvement, activation and enlivenment of urban open spaces within the Property (specifically the open spaces around the arts and retail building and 2nd Street connection); the provision of 17 on-site affordable housing units; and the continuation of the 2nd Street pedestrian and open space enhancements leading through the Property to Tidelock Park. The Applicant seeks bonus height and density for both the provision of the arts use and for affordable housing, both of which are encouraged in the [Old Town North Small Area Plan].
Community Three is the company behind award-winning redevelopments and creative and historic projects, including the Grimke School arts, retail and residential adaptation in Washington, D.C.
Alexandria City records show the three buildings on North Fairfax Street are still owned by American Physical Therapy Properties, Inc. and any development would require a rezoning and a variety of permits and approvals from City officials. Combined, the properties and the land they are on were assessed at $23.1 million.
It is likely redevelopment is still a few years away.
Read more about this project here from Washington Business Journal.
