Tuesday, October 17, 2006

National Gateway Project To See Additional Office Towers


The National Gateway project, the mixed- use development slated for the Potomac Yard area along Route 1 between Crystal City and Alexandria next to Reagan National Airport, appears to be moving forward to its next phase, with this week’s announcement by developers The Meridian Group and Archon Group that they intend to develop an additional six office buildings with over 1.6 million sf of space to join their already planned two 12-story office buildings (440,000 sf, including a 45,000 sf health club) Meridian and Archon expect to start construction on the first two office buildings later this year, with completion targeted for 2009. When finally built (no completion date has yet been set), the overall National Gateway project - which also includes developers Comstock and Camden Realty – will cost over $1 billion and contain the above office space as well as another seven office buildings totaling 2.2 million sf, plus1,550 apartments and condo units totaling 880,000 sf, retail space totaling 210,000 sf ,and a 625-room hotel.

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