First Phase Of $135M Potomac River Generating Station Redevelopment Approved

ALEXANDRIA, VA – Alexandria’s City Council has approved the first phase of a plan to redevelop the old Potomac River Generating Station into a mixed-use development.

The unanimous vote on Saturday approved the special use permits the project requires and the 30-year, $135-million tax-increment financing plan proposed for the public infrastructure that the city’s investment will fund.

According to the developer, HRP, this round of approvals covers the redevelopment’s proposed Blocks B and C, a Waterfront Park and a Rail Corridor Park. Ultimately, the 19-acre site is envisioned as a neighborhood with rental and condo units, ground-floor retail, public green spaces and pedestrian and bike routes.

The site was acquired by developer HRP in 2020, more than a decade after the power station had closed. The developer says the groundbreaking will be in 2027.