New Leases, New Buildings, Billions In Funding. Amazon Is Almost Here

Amazon has signed leases for three new buildings in Crystal City, with JBG Smith. These leases total over 537,000 square feet. These include buildings at; 241 18th Street South, 1800 South Bell Street, and 1770 Crystal Drive. Contracts for two new developments in the future National Landing were also signed by Amazon, thus making things official.

Amazon will reportedly pay $294 million for the new developments, which will total 4.1 million square feet at build out. With these agreements and almost $2 billion in investment from state and local governments, the first National Landing should be able to come here in just the next few months, according to JBG Smith CEO Matt Kelly.

The state general assembly has approved another $195 million in funding to upgrade the local transportation system, which is on top of the $570 million incentives to win the HQ2 bid in the first place. Virginia has also approved a quarter of a billion dollars for Virginia Tech’s planned new Alexandria campus.

The money is being spent, the land is being secured, and Amazon is almost here.

Source: https://wtop.com/business-finance/2019/04/amazon-makes-hq2-official-with-crystal-city-leases-pentagon-city-buildings/slide/2/