City of Alexandria, Virginia
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MEMORANDUM
DATE: MAY 16, 2023
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: JAMES F. PARAJON, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Authorization of the Execution of Proposed Amendments to the Landmark Development and Financing Agreement.
BODY
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ISSUE: Approval of proposed amendments to the Landmark Development and Financing Agreement ("Development Agreement").
RECOMMENDATION: That City Council:
1. Authorize the City Manager to execute the proposed amendments to the Landmark Development Agreement consistent with the attachment to this memorandum; and
2. Direct the City Manager, subject to the receipt of landowner petition, to bring forward for Council consideration and first reading at a future Legislative Meeting, an ordinance amending the Landmark Community Development Authority ("CDA").
BACKGROUND: The Landmark Redevelopment public-private partnership between the City, Landmark Land Holdings, LLC ("Developer"), and Inova Health Care Services ("Inova") (collectively "Parties") entails redeveloping the 51-acre Landmark Mall site into a mixed-use, walkable town-center type development. Inova, the leading nonprofit health care provider in Northern Virginia, would relocate its current Alexandria hospital and invest an estimated $1 billion to create a new medical campus anchored by a new regional Level II Trauma Center Hospital, a Cancer Center and at least one medical office building, and more than 2,000 health care workers. Development plans on the balance of the site by the Developer include residential, retail, commercial, and entertainment offerings integrated into a cohesive neighborhood with a central plaza, a network of parks and public spaces, and a transit hub serving bus rapid transit, DASH, and Metrobus. Affordable and workforce housing would be enhanced through Developer contributions and co-location with communit...
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