Work Begins on The Exchange at Potomac Yard

MRP Realty and JBG Companies announced Wednesday the start of construction of the first phase of The Exchange at Potomac Yard, a 14-acre town center within the Potomac Yard development on the east side of Route 1 in Alexandria.

Construction of The Alric, a 323-unit, multi-family apartment development, marks the first part of the town center. Located at 731 Seaton Ave., The Alric will include a mix of one- and two-bedroom residences in two five-story buildings. The complex will also include a roof terrace and lounge, courtyards, private ground-level patios, a pool and outdoor seating areas. It is expected to be completed by the end of 2014.

The Alric was designed by SK&I Architectural Design Group, which designed The Madison building located in Old Town at the corner of Madison and Henry streets.

“We, along with our partner The JBG Companies, foresee tremendous vitality coming to this area, which was underutilized for decades,” Matthew Robinson, principal of MRP Residential, said in a press release. “This will be a transformational, destination community for the City of Alexandria and the region.”

The release touted Pulte’s townhome and condominium development on the south end of Potomac Yard, the neighboring Potomac Yard Park that’s expected to be completed this summer, as well as the Alric’s vicinity to the planned Potomac Yard Metro station and the Route 1 bus rapid transitway currently under construction.

• See: Potomac Yard Park Playground Taking Shape
• See: Euille Reiterates Commitment to Building Potomac Yard Metro
• See: Crystal City-Potomac Yard Transitway to Open in Spring 2014

MRP and JBG had previously announced the start of construction of The Exchange—which will ultimately include nearly 2 million square feet of retail, office, hotel and residential space within Potomac Yard Land Bay G—more than a year ago.

• See: Construction of The Exchange to Begin Soon

The new offices for the Institute for Defense Analyses, approved by Alexandria City Council in December, are also included in Land Bay G, just north of Alexandria Fire Station 209 and a planned mixed-use development that will include a 69,000-square-foot Giant grocery store.

• See: Council OKs IDA Office at Potomac Yard
• See: Council Approves Potomac Yard Development Containing New Giant

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