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

Unwrap the magic of Black Friday and Small Business Saturday all weekend at Current Boutique! Dive into luxury with exclusive deals on pre-loved designer treasures, celebrating sustainable fashion with every purchase. Whether in-store or online, indulge in guilt-free glamour and support local businesses. ✨🛍️👗
💥 Sale: 25% off everything & 50% off tall boots
📅 Date: Friday November 24 – Sunday November 26
Christmas Through The Ages
Christmas Through The Ages – Join the Washington Men’s Camerata, and Guest Director Scott Tucker for a program of Christmas and holiday music spanning the centuries through today, featuring the music of Bach, Lauridsen, Abbie Betinis, and many others.