National Gateway Developer Sells Hotel Portion to Marriott

Meridian Group, which is developing the massive National Gateway project just west of Reagan National Airport with partner Archon Group, has decided to sell the 2-acre plot in the project zoned for hotel use to Marriott International, which is planning to place two hotels (a Residence Inn and a Renaissance) on the site with a total of 625 rooms. No sales price was disclosed, nor is there a known timetable for the hotels to be built. Progress is being made on the National Gateway project, a mixed-use development slated for the Potomac Yard area along Route 1 between Crystal City and Alexandria, with Meridian and Archon reportedly ready to break ground this Spring on one of the project's office buildings, with completion targeted for 2009. When finally built (no final 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 2.2 million sf of office space, 1,550 apartments and condo units totaling 880,000 sf, the two aforementioned hotels, and retail space totaling 210,000 sf, including a Harris Teeter grocery store. Arlington Virginia real estate development news

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.