Kimco Realty has released the renderings of its plan for Phase I of the redevelopment of the Pentagon Centre mall.
The real estate company will present the renderings to the Site Plan Review Committee tonight as it tries to amend its approved site plan. Its initial plans for the 16.8-acre site that includes the Costco, Best Buy and Nordstrom Rack in Pentagon City were approved in 2008, but those called for constructing the six-structure complex’s office buildings first.
Because of the realities of Arlington’s stagnant office market, Kimco now wants to build residential first, including a 25-story apartment tower at the corner of 12th Street S. and S. Hayes Street. That tower would be steps from the Pentagon City Metro entrance and would include ground floor retail.
Also in Phase I would be two buildings along 15th Street S.: a 10-story residential building with ground floor retail at the corner of S. Hayes Street, and a seven-story parking garage next to a new S. Grant Street, which would alleviate the loss of parking spots in the Costco’s surface lot.
The two residential buildings would give the area an influx of 703 residential units, and the parking garage would supply the area with 394 spots.
Phases II and III of the redevelopment — planned for 20 and 40 years after Phase I — have not been rendered. If approved, those phases of the redevelopment will see the demolition of the main mall building and the Costco, replacing it with three office buildings, a hotel and a park along S. Fern Street.