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.
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Time flies when you’re having fun! The T.C. Williams High School Class of 1973 will hold its 50th reunion July 21-23, 2023 in Alexandria. All graduates and their adult nears and dears are welcome. Events include a Friday evening icebreaker, Saturday dinner dance, and a Sunday brunch. For more information: tcwilliams73.com, 770.789.3534.
Spring Fling at Rising Sol Yoga School
Join us for a day of FREE hot yoga. Experience our class styles and meet our teachers. Buy a bite at the Bake Sale to benefit The Carpenter’s Shelter, peruse some special vendors, take advantage of in-person only discounts on
