This mixed-use, master-planned development, provides a pedestrian oriented environment of mid and high-rise commercial and residential development. It is focused around a walkable amenity core anchored by a Harris Teeter grocer and dynamic restaurants and shops which provide a unique pedestrian experience. With direct I-270 highway accessibility, just one exit outside the Capital Beltway, the project is already 60% developed and will reach over 2 million SF at full build-out.
Developed in phases, the project is a great example of Foulger-Pratt’s long term perspective and ability to react to evolving market conditions by revising the site plan to improve over time.
The occupied phases include 150 townhomes, 153 luxury high-rise condominiums, 311,000 SF office building space and over 107,000 sf of retail. The existing office buildings were able to outperform the market due to the walkable, amenity rich environment, stabilizing at 95% occupancy at a time when competing properties were under 50% leased.
Planned condominiums were converted to luxury apartments, now under construction as The Perry. Also under construction is a Class A LEED office building which has two of the five office floors pre-leased due to the superb amenity rich location and planned retail on the first floor.
Future phases include a planned traditional office, which has converted to medical office, reflecting a cross program with conventional office space that will leverage the amenity rich environment of Park Potomac. Additional office and retail, including an entertainment concept, are also planned for the site, and potential uses for the planned hotel site are being investigated.
Additionally, parking structures, public space and road networks were thoughtfully designed and incorporated into the mixed-use development, constructed in phases appropriate to the development.