A development company with a history of transforming obsolete facilities has purchased one of the largest industrial sites in Alexandria and plans to build housing, office space and retail, granting residents new access to a large swath of the Potomac River.
The Potomac River Generating Station, a shuttered, 71-year-old coal-fired power plant, was decommissioned in 2012. Hilco Redevelopment Partners bought the site last week for an undisclosed amount after a three-and-a-half year pursuit. Pepco will continue to own part of the site in order to operate an electrical substation.
“We’re excited about the chance to reintegrate it into the surrounding urban fabric, open up that access to the waterfront, and create a really dynamic district with world-class architecture,” said Melissa Schrock, the senior vice president of mixed-use development at Hilco. “We think the city of Alexandria deserves nothing less.”