Economic Development

The City’s Plan calls for creating a vibrant, diverse community of residential, retail, hotel and office space that will serve current residents and the future growth of Alexandria. In addition to the significant affordable housing contribution, the property owners will also be making large contributions for much needed amenities that would otherwise not be provided, including: 

  • A new Village Center with over 200,000 sf of retail shops, including a new grocery store and eventually a hotel
  • Nearly $60 million will be contributed to fund a new Bus Rapid Transitway, traffic improvements and infrastructure upgrades.
  • Additional annual tax revenues for the city of $46 million when fully built.
  • Approximately $11 million for construction of a new fire station.
  • Environmentally friendly design features, improved storm water management and better utility systems.
  • Over $8 million for a new athletic field with lights adjacent to the Ramsey Elementary School.
  • And over 44 acres of new parks, open spaces, and a system of walking and bike paths open to all Alexandria residents.

The Plan will also result in an increase in the City’s tax base for the benefit of all City residents. Click HERE to view the City’s approved Strategic Plan.