Federal Government Could Save $95M on New TSA HQ Lease
The Alexandria City Council is scheduled to vote next week on the incentives package for the new TSA HQ at 5001 Eisenhower Ave. The Eisenhower West Victory Center Redevelopment District legislation will be introduced on Sept. 8 prior to the Sept. 12 vote. Building partners JLL and Prudential Real Estate Investors offered $36/SF to lure the TSA to 5001 Victory Center. Alexandria followed that up by pledging a tax abatement package worth $23M over 15 years, which the city council will need to approve. The move would not be completed until spring 2018 and is expected to save the federal government more than $95M over the course of the lease. A similar bill, which offered $28M in incentives to help the National Science Foundation relocate to Hoffman Town Center, passed with little resistance. [WBJ]
