Neighbors, wow a lot of exciting developments today for our neighborhood. I’m sure you all saw the Amazon HQ2 announcement. PYCA President Mila Yochum was in attendance at the Governor’s Announcement event this afternoon. In addition to the HQ2 announcement, we are thrilled to say that the Southern Mezzanine will be fully funded by Amazon and constructed alongside the rest of the station!!

Additionally, we will be attending the 3:30 event that VT is hosting to kick off their satellite campus.
A lot of big developments today and a great deal for us to learn and analyze. We will be hosting a meeting with City staff to discuss all that the future holds in store for us. Stay tuned to Potomacyard.org and we will keep you all updated quickly as we can.

– According to the announcement the Commonwealth committed to doubling technology talent via new innovative programs at Virginia Tech (new Alexandria campus) and George Mason University (Arlington campus). The Virginia Tech Innovation Center will be built at Oakville Triangle will bring about 750 Master students and hundreds of doctorate students. In the plans, the Innovation Center will be operational in 2022.

Other details mentioned at the announcement event include:
– The Commonwealth will also contribute $295 million for transportation projects.
– The incentives to Amazon is performances based of up to $500 million if 25,000 new qualified jobs are created with an additional $200 million if 37,850 jobs are created. If estimates are accurate this will increase the Commonwealths net revenue into the general fund of $3.3 billion with the incentives deducted.
– Amazon is not purchasing real estate but will use JBG Smith. Learn more here: https://nationallanding.com/

Suzy