BETHESDA, Md.--(BUSINESS WIRE)--JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, announced today the acquisition of the former Americana Hotel situated directly across the street from Amazon’s future headquarters in National Landing.
The 1.4-acre Americana site, which encompasses a recently decommissioned 102-key hotel and adjacent parking lot, has the potential to accommodate a new multifamily development of more than 500,000 square feet.
“As the largest property owner and most active developer in National Landing, we have long viewed the Americana site as one of the best opportunities for development in the Capital region,” said Ed Chaglassian, Executive Vice President, Head of Acquisitions. “This location possesses all of the major ingredients for a successful project, including access to excellent public schools and close proximity to major transportation, retail, and employment opportunities. The potential for this development has only grown with the arrival of Amazon’s headquarters and the Virginia Tech Innovation Campus.”
About JBG SMITH
JBG SMITH is an S&P 400 company that owns, operates, invests in and develops a dynamic portfolio of high-growth mixed-use properties in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Capital region, including National Landing where it now serves as the exclusive developer for Amazon’s new headquarters. JBG SMITH’s portfolio currently comprises 20.7 million square feet of high-growth office, multifamily and retail assets, 98% at our share of which are Metro-served. It also maintains a development pipeline encompassing 17.1 million square feet of mixed-use development opportunities. For more information on JBG SMITH please visit www.jbgsmith.com.