Local Redevelopment

The economy in the Washington DC region continues to boom with incredibly low unemployment and incredibly high housing prices. Outlying regions are growing housing as fast as slow-growth restrictions permit, but inner regions, like Alexandria, VA are almost completely developed. Hence, old commercial sectors--like Landmark Mall--will be razed and replaced with a combination of dense housing and open-air shopping. They will also add housing to a BJ's wholesale club:

Freeman execs say they would like to take advantage of zoning that would allow for a residential component to the 120,000-square-foot BJ's Wholesale Club but would need approval from the city and the store, which has options on a long-term lease. Although the company has a residential division that builds golf communities, it has never done an urban project and is considering potential development partners.