The Alexandria City Council on Saturday unanimously greenlit construction and financing plans to redevelop the shuttered Potomac River Generating Station in Old Town North.
City Council approved property owner HRP Group’s plan to develop the first phase (Blocks B and C) of the six-block, 19-acre project with mixed-use apartment and retail buildings, create more than 10 acres of public open space and convert an old pump house into a community amenity. City Council also approved a $135 million financing deal for the project, which HRP Group says will catalyze more than $2 billion in private investment into the site. Deconstruction of the former power plant could begin as early as next year and is expected to take up to 20 months.
