Post Content

JPMorgan Chase Now Managing Finances for Potomac Yard Development

New York-based multinational investment firm JPMorgan Chase & Co. has taken over financial management of the massive Potomac Yard redevelopment from Texas-based Lionstone Investments.

But even though the Washington Business Journal broke the story on Feb. 11, sources familiar with the 20-acre project say that the transition was made more than a year ago and will have no impact on development, which includes Virginia Tech’s $1 billion Innovation Campus that is slated for completion in 2024.

“Not sure why the article is coming out now as the change happened over a year ago and has had no impact on the project,” Cathy Puskar, an attorney with property developer JBG Smith, told ALXnow. “…(E)verything proceeded on time and according to plan.”

JBG Smith and JPMorgan Chase broke ground on the Virginia Tech development last month with the demolition of the Regal Potomac Yard movie theater.

Representatives from Lionstone and JPMorgan Chase could not be reached for comment.

Recent Stories

Updated at 6 p.m. Old Town residents and business owners are up in arms for not being officially notified of a route change for the George Washington Birthday Parade on…

As rainfall travels down the hills of the Parkfairfax neighborhood, the momentum sweeps it past the slim gutters meant to catch the water, propelling it further downhill to devastating effect….

Cloud is a 10-year-old black and brown medium-haired cat searching for her forever home. Currently up for adoption at the Animal Welfare League of Alexandria, she has a decade of…

A 23-year-old Lorton man was charged with driving while intoxicated after allegedly crashing into four cars in Old Town. The crash occurred near the intersection of S. Patrick Street and…

Hi, my name is Moneim Z., and I am a blind male with chronic kidney disease, who needs a living kidney donor for a transplant. My blood type is B+, and I can accept a kidney from individuals who have blood types B and O.

To read my story, please see the attached letter.

To contact me directly, please email me at [email protected] or call at 571-428-5065. My living donor coordinator at INOVA Hospital, Amileen Cruz can be reached at (703) 776-8370 , or via email at [email protected]

Thank you!

Read More

Submit your own Community Post here.

×

Subscribe to our mailing list