City of Alexandria, Virginia
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MEMORANDUM
DATE: FEBRUARY 5, 2026
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER
FROM: HELEN S. MCILVAINE, DIRECTOR, OFFICE OF HOUSING
DOCKET TITLE:
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Consideration of a Resolution Designating the Potomac Yard Landbay G-G Site a Revitalization Area.
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ISSUE: Consideration of a Resolution Designating the Potomac Yard Landbay G-G Site a Revitalization Area.
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RECOMMENDATION: That City Council:
1) Approve designating the Potomac Yard Landbay G-G site a Revitalization Area pursuant to ? 36-55.30:2.A of the Virginia Code;
2) Authorize the City Manager to execute any necessary documents related to this resolution in support of Wesley Housing's application for Low-Income Housing Tax Credits
BACKGROUND: Wesley Housing received development approvals in December 2025 for Landbay G-G, an 89-unit affordable housing project located at 601 East Glebe Road. The proposed six-story building will include predominantly family-sized two- and three-bedroom units serving households earning between 30 percent and 80 percent of the Area Median Income (AMI). On average, rents will be affordable to households earning up to 60 percent of AMI. Planned amenities include a multipurpose community room, a leasing office, bicycle storage, and other resident-focused spaces.
The proposal to incorporate an affordable rental building into JBG Smith's revised development concept for Potomac Yard was critical to its approval. To accomplish this, JBG Smith entered into a partnership with Wesley Housing to donate the Landbay G-G site-valued at approximately $2.5 million by the Office of Real Estate Assessments in 2025. The value of the land donation will help support the project's tax credit application. JBG SMITH has also committed to address the affordable housing project's financing gap, if that is necessary, and has ide...
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