The Washington, D.C., area may be seeing a slowdown in new construction starts, especially in the office sector, but a series of large-scale developments are slated to reach completion this year.
Those deliveries include two major office projects: the first two new buildings of Amazon’s HQ2 and the latest phase of Capital One Center. Elsewhere, progress continues on the Parks at Walter Reed, one of the District’s largest developments. And suburban Maryland continues will see town center development of its own, notably in Prince George’s County.
Bisnow has rounded up some of the biggest developments opening their doors this year, using data from JLL and Delta Associates.
Capital One C3
Developer: Capital One
Use: Office
Location: Tysons, Virginia
Delivery: January 2023
Capital One began moving workers this month into the third office building on its main campus near the McLean Metro stop, a spokesperson confirmed to Bisnow. The 843K SF building is slated to include retail, joining the neighboring Capital One Hall and The Perch, a 1.2-acre rooftop park, in adding amenities to the financial giant’s headquarters.
Capital One Center still has space to grow, with the firm’s website showing the possibility for five additional buildings bounded by the Capital Beltway, Scott’s Crossing Road and Route 123.
Amazon HQ2’s Metropolitan Park
Developer: JBG Smith
Use: Office plus ground-floor retail
Location: Arlington, Virginia
Anticipated Delivery: Summer 2023
The first portion of Amazon’s much ballyhooed HQ2 development, Metropolitan Park, is slated to deliver this year. The 2.1M SF project features two 22-story office towers that include 50K SF of retail, for which developer JBG Smith has already begun seeking tenants. The development also includes a 2-acre public park.
Though Amazon is still planning to move in, the tech giant isn’t without its struggles this year. The corporation announced last week that it would lay off 18,000 employees, or 1% of its workforce. But the layoffs appear unlikely to affect Met Park. A spokesperson for Amazon told 7News that the company is on track to open the first two buildings this summer, adding: “Our long-term intention and commitment to the communities where we have a presence, like HQ2, remains unchanged.”
Heming
Developer: Skanska
Use: Multifamily plus ground-floor retail
Location: Tysons, Virginia
Anticipated Delivery: Q2 2023
One of the largest multifamily projects in Northern Virginia, Skanska’s Heming is expected to deliver 410 residential units and 28K SF of retail space by this summer. The 28-story tower, situated in Scott’s Run across Route 123 from Capital One’s headquarters, is also slated to feature a three-story outdoor public plaza.
The 6.5M SF Scott’s Run development has been a focus for Fairfax County planners, who are looking to build out the Tysons East area that also includes Capital One’s holdings. Other developments there include LCOR’s 319-unit Kingston at McLean Crossing and the 178-room Archer hotel, which opened in September.
Oakville Triangle Phase 1
Developer: Stonebridge
Use: Mixed-use
Location: Alexandria, Virginia
Anticipated Delivery: Fall 2023
The first phase of a project designed to remake the Oakville Triangle area near the soon-to-open Potomac Yard Metro Station is slated to deliver this year. Stonebridge is leading the redevelopment of the area, which Inova is anchoring with its 93K SF Oakville Triangle HealthPlex, ALXNow reported.
The healthcare facility is slated to be joined by a 571-unit multifamily development from Stonebridge, plus 84 townhomes from Tri-Pointe Homes and a renovated self-storage facility. Stonebridge also agreed to expand public park space on the site, which is bordered by Mount Jefferson Park.