JBG SMITH Secures Unanimous Approval for Massive Mixed-Income Housing Initiative in Potomac Yard

Alexandria City Council approves JBG SMITH’s Potomac Yard redevelopment, featuring 640 market-rate and affordable homes near the new Metro station and Amazon HQ2.

By: AXL Media

Published: Mar 13, 2026, 11:44 AM EDT

Source: https://www.multihousingnews.com/

A Strategic Trio of Residential Offerings

The approved plan utilizes a diversified housing strategy to address varying market needs in the Washington D.C. metro area. The largest component is a seven-story, 480,533-square-foot building at 2900-2901 Potomac Ave., which will house 432 market-rate apartments and ground-floor retail space. Complementing the rental stock, JBG SMITH has partnered with Toll Brothers to develop 120 single-family townhomes on Landbay H. This mix of high-density rental and for-sale housing is designed to create a "live-work-play" ecosystem adjacent to the newly opened Potomac Yard Metro station.

Dedicated Affordable Housing and Social Impact

In a move to bolster regional housing equity, JBG SMITH donated a parcel at 601 E. Glebe Road to the Wesley Housing Development Corp. This site will become a six-story building featuring 88 units of dedicated affordable housing. These two- and three-bedroom apartments are earmarked specifically for households earning between 30 percent and 80 percent of the area median income (AMI). By integrating subsidized housing within a predominantly market-rate development, the project aligns with Alexandria’s long-term goals for inclusive urban growth and socioeconomic diversity.

The Innovation Campus and Regional Synergies

The redevelopment is positioned as a critical residential anchor for the burgeoning National Landing community. The site is located within walking distance of Virginia Tech’s Innovation Campus—which opened its first academic building in early 2026—and remains in close proximity to Amazon’s HQ2 and Reagan National Airport. This concentration of tech-focused infrastructure and corporate headquarters has created a persistent demand for housing that can accommodate both young professionals and families within a transit-linked corridor.