$600M Mixed-Use Project on the Table

DULLES, VA-Plans are only in the early stages, but Buchanan Partners has just revealed that it will develop a sprawling 2.8-million-sf mixed-use property on a 400-acre parcel off Route 50. The project, to be known as Arcola Center, is expected to cost $600 million to realize. Buchanan’s current vision for the development includes construction of office space, an upscale retail element built in a Main Street style, residences, space for entertainment offerings and a hotel. Additionally, the company plans to refurbish former slave quarters on the site that will serve as a tourist attraction and educational venue.

Working with Atlantic Realty Partners BV, Buchanan acquired the 400 acres–located near Washington Dulles International Airport and the increasingly popular new National Air and Space Museum, Steven F. Udvar-Hazy Center–for the project, piece by piece. A large portion of the property, referred to as the Hazout tract for its former owner Hazout SA, has already been zoned to accommodate a mixed-use project of this size consisting of retail, office, flex and industrial space.