Alexandria's former power plant site set for waterfront transformation
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A major stretch of Alexandria's riverfront could look very different in the near future, thanks to a recently approved development.
Why it matters: The project would transform a long underutilized waterfront site into a neighborhood with new parks, housing and public access to the Potomac.
State of play: Alexandria's City Council last month signed off on plans and financing for the first phase of a project to develop the former Potomac River Generating Station site in Old Town North, which is slated to include:
- Over 800 units of housing — with 19 of those designated as affordable — and ground-floor retail
- 10 acres of public green space, including a waterfront park, a rail corridor park, event lawns, play areas, sports fields, dog parks, and Mount Vernon Trail upgrades
- Plus: Restaurants and an underground parking garage
Future proposed phases could include an arts and culture center with office and retail space.
- The project's public infrastructure will be covered by a $135 million tax increment financing package, which uses bonds that are paid over time via the site's tax revenue — anticipated to hit over $1 billion during the financing period.
Between the lines: The site, which spans almost 19 acres and was purchased by the developer HRP Group in 2020, is an important component of the city's longstanding plan to redevelop the Old Town North area into a walkable, mixed-use community.
- The coal-fueled power plant has been closed since 2012.
Reality check: The site was once the biggest source of Northern Virginia air pollution, and making it safe for development will require steps like removing asbestos and contaminated soil.
- Other local concerns: Whether it will impact traffic or have enough affordable housing.
The intrigue: This isn't the only recent headline tied to Alexandria's waterfront.
- The city wanted to build a new pump station at Waterfront Park along the river to help prevent flooding in Old Town — an idea that sparked backlash from locals worried it would be a noisy eyesore that ruined the park.
- But the National Park Service rejected the proposal earlier this year, so Alexandria is now instead pursuing an option that doesn't require building a station.
Zoom out: This comes as other projects along the DMV's waterfront — like Poplar Point and the reimagined RFK Campus — similarly look to transform underutilized riverfront property.
What we're watching: Construction on the project's first phase is expected to kick off next year and wrap up by 2030.
