Peterson Cos. proposes a 1.2 million-square-foot, mixed-use project for National Harbor

Published April 7, 2016 by Paula C. Squires

The Peterson Cos. in Fairfax has proposed another major new development for its National Harbor mixed-use project in Prince George’s County, Md. The 16-story building, if approved by the locality, would be bigger than the million-square-foot MGM National Harbor casino-resort that is expected to open in the fourth quarter.

According to Angela Sweeney, vice president of corporate marketing and communications for Peterson Cos., the 1.2 million-square-foot project would be located adjacent to MGM’s new luxurious resort. While still in the conceptual stages, Peterson's latest addition to what is already a mega-sized mixed-use complex would include a 500-room hotel (200 more rooms than the 308-room hotel planned by MGM), 702 apartments, 189 timeshare rentals, 22,000 square feet of retail, 972 restaurant seats and 22,000 square feet of entertainment related spaces. There also would be an enclosed walkway to MGM, a 2,070-space parking garage and an outdoor pedestrian plaza.

In another development, Sweeney said that the Peterson Cos. recently acquired a 117,700-square-foot building, 6710 Oxon Hill Road, north of the Tanger Outlets, for $12.3 million. The buy was a strategic decision, she said, to enhance the National Harbor office market, providing space for tenants looking for a lower price point compared to other office space in the project located on the banks of the Potomac River.
The 26-year-old building will remain office space for now, she said.

National Harbor is a short drive from Northern Virginia, just across the Woodrow Wilson Bridge.