Developer Kimco’s initial plans for the 17-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. As approved, the amended plan will result in the construction of 693 residential units in two buildings during the project’s first phase.
Phases II and III of the redevelopment — which are 20-35 years away — will see the demolition of the main mall building and the Costco, replacing it with three office buildings, a hotel and a three-acre park.
A 9,000 square foot open space will be built in Phase I. Kimco also agreed to provide space for a transit commuter store, to place solar panels on the roof of a planned parking garage and to provide at least 11 units of on-site affordable housing.
In all, the project includes 1.9 million square feet of mixed-use development, including 200 hotel rooms, 705,700 square feet of office space and 346,000 square feet of retail space.
Note: Images above are preliminary renderings and might not reflect the final project as approved.