The Virginia city said Tuesday that the former Landmark Mall will be redeveloped as a huge hospital campus anchored by an expanded Inova Alexandria Hospital. The move is seen as a way to revitalize the West End of the city where the now unoccupied mall sits on 52 acres near Interstate 395. The City of Alexandria and Inova Health System have been working on the plan for the 4-million-square-foot community for more than a year.
According to wtop.com, “Inova will invest $1 billion to build a new medical campus. It would relocate its more than 2,000 employees from the current Inova Alexandria Hospital on Seminary Road. In addition to a hospital, the property will be a “mixed-use, walkable urban village” that includes residential, retail, commercial, and entertainment, the city said. Construction could begin as soon as 2023, with the first buildings delivered in 2025.”
As per wtop.com, “Transit options and a network of parks and public paces will also be incorporated in the development, including a new Alexandria Fire-EMS station. Under the plan, the city would use $54 million in public bond financing to buy the land for the hospital and lease it to Inova, as well as $76 million in public bond financing for site preparation and infrastructure at the Landmark site and adjacent Duke Street and Van Dorn Street corridors. The city said the investments are expected to generate $778 million in city tax revenue over the 30-year life of the bonds.”