Developer JBG Smith has acquired the former Americana Hotel in Arlington, Virginia, after its closure earlier this month ending nearly six decades in business, and may redevelop the site as apartments or condos.
The Americana Hotel site, prominently overlooking Richmond Highway, is directly across the street from Amazon’s HQ2 buildings in National Landing.
JBG Smith said the 1.4-acre site, which also includes an 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, head of acquisitions for JBG Smith.
“The location possesses all of the major ingredients for a successful project, including access to excellent public schools and proximity to major transportation, retail and employment opportunities.”
JBG Smith says the potential for its redevelopment has only grown with the arrival of Amazon’s new headquarters and the Virginia Tech Innovation Campus.
JBG Smith owns the existing Crystal City buildings that Amazon has occupied as part of its HQ2 in Arlington County. Amazon recently moved into its fifth redeveloped Crystal City office building.
JBG Smith is also developing two office towers totaling 2.1 million square feet for Amazon near Pentagon City Mall, called Metropolitan Park.
The 102-room, family-owned Americana Hotel had operated continuously since its opening in 1963.