Townhomes will be built on 6 acres of the 16-acre property where Victory Center stands; the office building will remain.
Alexandria's infamous, under-used office building — the Victory Center on Eisenhower Ave. — is moving closer to becoming a residential development.
The Washington Business Journal first reported that Stonebridge, which owns the building and the parking lot to west of it, is moving ahead with developing office-to-residential conversion plans for the tower.
In late October, the Biden administration announced the federal government will be giving developers billions of dollars in incentives to redevelop vacant office building. Stonebridge announced a few years ago that demolition or a residential conversion were both under consideration, but the company's first desire was to lease the office building.
The Victory Center was originally built in the 1970s and modernized decades later in an effort to attract a government contractor or agency. The building has remained mostly vacant, despite significant marketing efforts and commuter-friendly location near the Van Dorn Metro Station and the Beltway.
According to Commercial Cafe, more than 606,000 sq. ft. of the 625,000 sq. ft. building are available for lease.
Taking the building off the lease market will help decrease the amount of vacant office space in the City of Alexandria, but another hurdle is on its way down the road. The General Services Administration announced last year that the U.S. Patent & Trademark Office would be vacating about one-third of its space in the Carlyle District.
Alexandria is a leader nationwide in converting underused office spaces to residential, with projects moving forward in Old Town, Old Town North and elsewhere.
Stonebridge sold the parking lot on the east side of the Victory Center, where townhomes are now under construction by Tri Pointe.
