On the eve of an annual report on the city’s economy from the Alexandria Economic Development Partnership, ALXnow sat down with AEDP CEO Stephanie Landrum to discuss the future of development in three areas of the city: Carlyle, Potomac Yard and Old Town North, and the Landmark-Van Dorn corridor. These will be broken up into a multi-part series covering each location.
As the City of Alexandria gears up for the Landmark redevelopment, the Alexandria Economic Development Partnership (AEDP) is working to try and ensure nearby local restaurants and small businesses aren’t pushed out.
New residential and commercial development is picking up along the Landmark-Van Dorn corridor, in part spurred on by the redevelopment of the Landmark site. But new development can also mean higher property values and subsequently higher rents for the businesses that helped build a community in the West End.
AEDP CEO Stephanie Landrum said the organization’s Small Business Team has been focusing much of its energy in the West End.
Landrum said there are around 20-25 international restaurants in the area, including the acclaimed Ethiopian spot Feru Bar and Restaurant.
“Our small business team has been going out and meeting with them, talking about funding opportunities [and grants],” said Landrum.
Landrum said AEDP’s team has been working with businesses in the area to develop growth strategies and help them operate more efficiently. AEDP has also been bringing on new consultants. Landrum said as the Landmark redevelopment builds inertia, helping those small businesses will be the major work AEDP is doing in the West End.
“We’re really trying to make sure that the existing businesses out on the West End, who were probably preparing for relocation, that we’re helping them stay and grow,” Landrum said.
Landrum said construction is starting this month at the Landmark site, which means AEDP is also focusing on working on “pitching” the site to other potential businesses, particularly trying to find those that would benefit from proximity to the hospital.
“The way we’ve been thinking about how we focus our efforts for the last ten years has been finding a catalyst for areas that want or need growth, getting that deal done, and then watching the spin-offs happen,” Landrum said. “That catalyst makes the activity happen, but we still need to be constantly pitching.”
