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Notes: JBG Smith says tech and ‘other’ opportunities abound for failed Potomac Yard arena space

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Rendering of outdoor plaza at Monumental Arena development (image courtesy of JBG SMITH)

What’s going to happen with the 12-acre property at Potomac Yard since the arena and entertainment district plans evaporated?

In an exclusive interview with the Washington Business Journal, Matt Kelly, the CEO for landowner JBG Smith, said that he doesn’t know exactly what will go into the space now, but that the arena deal highlighted the “attractiveness” of the property, which is next door to the Potomac Yard Metro station.

Kelly’s statements follow a scathing condemnation from the company immediately after the deal officially died.

Kelly said that JBG Smith’s 2020 plans to build six office buildings with ground floor retail on the arena will likely be scrapped due to a dwindling office market. He also said that Virginia Tech’s Innovation Campus and Amazon’s HQ2 in Crystal City will open opportunities for “tech uses” in the space.

The statement contradicts a more dire message from Mayor Justin Wilson, who recently wrote in his April newsletter that the arena failure will likely result in a period of stagnation for the property.