When finished, the expansion will be the largest new VA public-private project of its kind, according to a prepared statement from the VA.
The City of Medicine Center will comprise private-sector medical office buildings, research labs, commercial and educational administrative office space, a retail center and a residential facility. The total square footage wasn't disclosed.
The public-private development partnership is allowed under the federal enhanced-use lease program, which allows commercial activities on VA property as long as they are consistent with the VA's mission.
LCOR has participated in the $3 billion expansion of the international terminal and the Delta Air Lines portion at JFK Airport in New York; and the construction of the $600 million U.S. Patent and Trademark Office Campus in Virginia.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
