A possibility for redevelopment of Springfield Mall? A New York based real estate investment firm, Vornado Realty Trust, bought Springfield Mall last fall, according to Springfield Connection. There's speculation on about what the future holds for the 80 acre site.
While Vornado plans to retain retail as the core of the property and doesn't want to take any of the footprint of the mall away, they hope to add other uses. "I think what we're looking at is some additional residential within the existing mall footprint," Koelemay said. They also plan to add some office space and, potentially, a hotel.
For now, we just have to wait-and-see what the future plans for the existing mall will be. It's going to take at least 6 months to a year to get the project up and running. Hold your breath for now. All options are on the table, including mixed-use project with urban living style build into it -- work/play/live. As mixing bowl project nears completion, if they do it right, this location could be a hub connecting the possibility of living here and working in DC, Alexandria, Ft. Belvoir, and Dulles tech corridor. The mixing bowl (Interchange) is designed to handle 500,000 cars passing through the area daily.
Redevelopment project on the other side of Springfield, known as MidTown Springfield, is still on track though it's been delayed for awhile. MidTown Springfield is a mixed-use project to combine office over retail, residential stacking over retail, lodging and entertainment. These days, residential homes stacking over retail is a trend.
The "Midtown Springfield" project is a mixed-use development planned to go in the roughly 9-acre parcel bounded by I-95, Commerce Street and Brandon Avenue.
The developer, KSI Services, Inc., proposes leveling the existing commercial areas and rebuilding a small-scale town center with roughly 800 apartment or condo units, and some retail, office and community space.
The project has recently been able to incorporate the Saigon City property, a final holdout, into the overall development. "It is now formally in the project," said Greg Riegle, attorney for the developer.
A public hearing for this project is scheduled for June 1.