ALEXANDRIA, VA (May 12, 2022) – Foulger-Pratt and its development partners The Howard Hughes Corporation® (NYSE: HHC) and Seritage Growth Properties (NYSE: SRG) kicked off construction today of WestEnd Alexandria, a 4-million-square-foot mixed-use development, with the demolition of Landmark Mall.

“The WestEnd community has long anticipated the development of this site and today we celebrate the first step in the vision to bring economic prosperity by way of employment opportunities, healthcare, additional housing and retail and entertainment options,” said Alexandria Mayor Justin Wilson. “This new mixed-use community will provide long-term benefits to our nearby neighborhoods and the City of Alexandria as a whole.”

The development, recently branded as WestEnd Alexandria, is situated along Duke Street, Interstate 395, and Van Dorn Street in the City of Alexandria. With proximity to Amazon’s new Northern Virginia headquarters, the forthcoming neighborhood will include four residential buildings with more than 2,500 apartment homes, including 200 affordable units. WestEnd Alexandria will create a new street grid with a multitude of parks and open space, approximately 125,000 square feet of medical office buildings, and nearly 235,000 square feet of retail and restaurant uses.

Foulger-Pratt, Howard Hughes Corporation and Seritage Growth Properties came together to form a joint venture partnership to transform the 52-acre former mall into a new, dynamic neighborhood.

“We are fortunate to have a great partnership with Howard Hughes and Seritage,” said Cameron Pratt, managing partner and chief executive officer of Foulger-Pratt. “We share a vision to transform this property into something truly special for the WestEnd and the City of Alexandria.”

“There is tremendous potential for this site to enhance the lifestyle of all who live and work in Alexandria and the surrounding region and we look forward to realizing our shared vision for this development—one that is complete with all the amenities and urban walkability that define today’s sought-after mixed-use communities,” said David O’Reilly, Chief Executive Officer of The Howard Hughes Corporation.

In late 2020, Inova announced plans to invest $1 billion to build a new medical campus on an 11-acre portion of the former Landmark Mall site with the intention to relocate more than 2,000 employees from its current Inova Alexandria Hospital on Seminary Road.

“We are excited to be part of this momentous redevelopment and proud to establish a new destination for Alexandria,” said Andrea Olshan, President and Chief Executive Officer of Seritage Growth Properties. “We look forward to seeing West End Alexandria become a vibrant new part of the city.”

WestEnd Alexandria launched a temporary transit hub for DASH and Metrobus in late April to maintain established lines serving the site. DASH Lines 30, 32 & 35, and Metrobus Lines 29K & 29N continue to operate out of this location. Demolition of the current structures, except for the parking garage, began today. The parking garage will remain and undergo improvements before reopening. Work hours will be Monday through Friday from 7:00 am to 6:00 pm and Saturday from 9:00 am to 6:00 pm.

Construction of WestEnd Alexandria is anticipated to begin in 2023 with the first residential buildings delivering in 2025. Upon completion, WestEnd Alexandria will include a new facility for Alexandria Fire-EMS Station 208.

###

ABOUT FOULGER-PRATT
Established in 1963, Foulger-Pratt is a real estate investment and development firm distinguished by its long-term focus and extensive experience executing successful mixed-use, transit-oriented projects. The firm’s disciplined culture and vertically integrated platform have enabled it to develop more than 15 million square feet of commercial office, multi-family residential and retail projects. by its long-term focus and extensive experience executing successful mixed-use, transit-oriented projects.

Foulger-Pratt is privately owned, led, and staffed by many of the industry’s most talented professionals. The firm’s culture has been carefully cultivated for the last half-century through deliberate effort to operate consistently in accordance with specific core values. The result is a reputation of unmatched integrity, accountability, and vision. For more information, visit www.foulgerpratt.com.

ABOUT THE HOWARD HUGHES CORPORATION®
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well as operating properties and development opportunities including: the Seaport in New York; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; Ward Village® in Honolulu, Hawai’i.; and Douglas Ranch in Phoenix. The Howard Hughes Corporation’s portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC. For additional information visit www.howardhughes.com.

ABOUT SERITAGE GROWTH PROPERTIES
Seritage is principally engaged in the ownership, development, redevelopment, management, and leasing of diversified and mixed-use properties throughout the United States. As of September 30, 2021, the Company’s portfolio consisted of interests in 170 properties comprised of approximately 10.0 million square feet of GLA or build-to-suit leased area (approximately 8.0 million at share), approximately 4.0 million of which is held by unconsolidated entities (approximately 2.0 million at share), approximately 600 acres held for or under development and approximately 10.0 million square feet of GLA or approximately 850 acres to be disposed of.