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Notes: Developers present contrasting visions of Potomac Yard’s arena post-Arena deal

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🚨 You need to know

Matt Kelly, CEO of JBG Smith, speaks at the announcement of a new arena for the Washington Wizards and Capitals in Potomac Yard in Alexandria, Dec. 13, 2023 (staff photo by James Cullum)

It’s been a while since the Potomac Yard Arena was in the news, but its shadow still lingers over the Potomac Yard neighborhood months after the deal’s implosion.

The Washington Business Journal (WBJ) published an interview with Doug Firstenberg, principal at Bethesda-based developer Stonebridge. Stonebridge is developing a pair of mixed-use residential/retail buildings at 400 Swann Avenue and 2601 Oakville Street, just across Route 1 from the Potomac Yard shopping center.

WBJ reported that Firstenberg was bullish about future development at Potomac Yard, telling WBJ that the area has the fundamentals like quality of life and accessibility that make new development appealing.

WBJ noted that this outlook was contrary to Matt Kelly, CEO of JBG Smith, who earlier said that without the Potomac Yard Arena there’s insufficient demand to redevelop the current Target-anchored shopping center. Kelly told WBJ that only a “mega-anchor” would justify JBG stopping the current revenue from the shopping center to make way for extensive redevelopment.

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  • This is the staff byline for ALXnow, used by editors and other full-time staff. Launched in October 2019, ALXnow is the place for the latest news, views and things to do around Alexandria, Virginia.