Landmark Land Holdings, a joint venture that includes Howard Hughes Corp. (HHC), Foulger-Pratt and Seritage Growth Properties, announced the sale of an 11-acre parcel of land in the former Landmark Mall to the industrial development of the city of Alexandria. Agency (IDA) for $54 million.
Meanwhile, IDA signed a 99-year land lease with Inova Health System for the land, which will be the location of its new hospital in Alexandria. use, pedestrian urban community that will anchor the revitalization of Alexandria’s West End.
The 3 joint venture partners first announced their vision for the revitalization of the former Landmark Mall in December 2020, adding plans for the new Inova Hospital Campus to serve as a catalyst for the highly anticipated progression of Alexandria’s entire West End. Fitness service provider in Northern Virginia, will invest $1 billion to create a new medical campus, anchored through the relocation and expansion of its Alexandria hospital. Innova expects its new campus to employ more than 2,000 fitness workers.
Development plans for the remaining parts of the Landmark Mall site come with a combination of residential, advertising, advertising and entertainment offerings incorporated into a network consistent with a central plaza, a network of parks and public spaces, and a hub that serves as immediate bus transit (BRT), DASH and Metrobus. Se expected to begin demolition of Landmark in spring 2022, with contributions from developers and co-location with network amenities such as a new Alexandria fire station and EMS. The buildings are expected to be delivered in 2025.
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