WASHINGTON, DC-Vornado Realty Trust has reportedly agreed to pay Arlington County $15 million to allow for the necessary density to build its massive mixed-use PenPlace development in Pentagon City.
PenPlace is to be built on a 10-acre parcel bounded by Army Navy Drive, South Fern Street, South Eads Street and 12th Street. The 1.8-million-square-foot project calls for the development of two 22-story office buildings, one 19-story office building, one 18-story hotel, one 16-story office building that may be shifted to residential and 50,000 square feet of retail, according to the Washington Business Journal.
The project site is located north of Vornado's Metropolitan Park project, which will be anchored by a Whole Foods. See story in the Washington Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
