Roughly a half a mile away from the Van Dorn Street Metro station, the 17.7-acre parcel of land that is Vulcan Materials' shuttered facility in Alexandria, Virginia, will go on the market. The price for the land sale has not yet been announced, but it is expected to be around $13.2 million, as reported by Washington Business Journal.
Developers MRP Realty and Paradigm Development Co. originally planned on redeveloping the site, located at 701 S. Van Dorn Street, into a mixed-use project.
The proposal involved rezoning the site and constructing a seven-story, 414-unit residential building, 125 townhouses, and a commercial space that would have housed either a hotel or office building. There were also plans for a linear park.
According to Washington Business Journal, the project fell through due to an appraisal that showed a higher-than-expected value for the proposed townhomes.
• Alexandria industrial site to go on the market as redevelopment play falls through [Washington Business Journal]