Hilco Redevelopment Partners Hosts Site Tours of the former Potomac River Generating Station

National leader in sustainable redevelopment hosts public tours of former power plant site in Alexandria, VA; solicits public feedback in Open Space Survey

ALEXANDRIA, Va., May 15, 2023 /PRNewswire/ -- Hilco Redevelopment Partners (HRP), a national leader in transforming obsolete industrial sites into economic engines, opened the gates to the former Potomac River Generating Station (PRGS) site for public tours on Friday, May 12 and Saturday, May 13. Over the course of two days, Alexandrians were welcomed into the previously closed-off property along the Potomac River, adjacent to the Mount Vernon Trail, in Old Town North.

This is the fourth set of site tours HRP has provided for the public since its acquisition of the former coal-fired power plant in 2020. Participants walked the waterfront property with the project team, learning about the history of the former refinery and the future plans for a vibrant mixed-use destination to come, with a focus on HRP's innovative strategies for sustainable development and the plan for approximately 14-acres of publicly accessible open space on and adjacent to the site, including improved waterfront access.

"Being accessible to and engaged with the local community is a pillar of HRP's holistic approach to redevelopment and will be a top priority over the course of the transformation of the former Potomac River Generating Station site into a vibrant destination on the shores of the Potomac," said HRP CEO Roberto Perez. "Inviting the public to tour this formerly closed-off site is just the first step in bringing the community back into this space. We look forward to delivering on our shared vision to reintegrate this waterfront site back into the Old Town North neighborhood and deliver publicly accessible open space year-round."

Also on Saturday, May 13, the Alexandria City Council formally endorsed HRP's Coordinated Sustainability Strategy (CSS), a comprehensive sustainability approach focused on reduced energy usage, renewable energy, storm water management, and a decreased reliance on vehicles. The implementation of the CSS is targeting a 25 percent operational energy savings, a ten percent reduction in embodied carbon, at three percent of onsite renewable energy generation, in addition to near sitewide electrification. The CSS previously received a unanimous recommendation from the Planning Commission on May 2.

HRP also partnered with ALIVE! by coordinating a food drive which invited tour attendees to drop off non-perishable food items for Alexandrians in need. Between both days of tours, HRP was able to welcome nearly 200 neighbors into the space and collected 400 pounds of food -approximately 500 meals- to support Alexandria's food distribution program. When entering a new community, HRP views itself as a neighbor and is dedicated to collaborating with local institutions to help support the community's needs.

In addition to site tours and regular community meetings, HRP is also facilitating an Open Space Survey throughout the month of May. This online survey allows community members to share their vision for the open space component of the redevelopment. The open space plan will also be the focus of HRP's next public community meeting on May 24.   

HRP redevelops complex industrial properties in major U.S. cities through a holistic approach that prioritizes environmental, economic, and community sustainability. The PRGS redevelopment will not only deliver significant publicly accessible green space but will create jobs during construction and permanent jobs at the dining, retail, and office spaces once redeveloped. The project team looks forward to hosting more community events and collaborating with the residents of Old Town North throughout the redevelopment process and to the benefit of all Alexandrians long after redevelopment is complete.

About Hilco Redevelopment Partners (HRP): HRP is in the business of transformation. As a real estate owner, operator, and developer, we re-imagine complex properties across the United States to remediate and redevelop sites for the future. To do this we take a holistic approach to sustainable redevelopment that prioritizes the community, the environment, and the economy. We do this because we want to make lasting change. Our expertise spans multiple sectors, including modern logistics facilities, urban mixed-use projects, and life science ecosystems. HRP is passionate about and committed to making an enduring positive impact and improving communities through its transformational projects.

HRP is an operating unit of Hilco Global (www.hilcoglobal.com), a privately held diversified financial services company and the world's preeminent authority on maximizing the value of assets for both healthy and distressed companies. Hilco Global operates as a holding company comprised of over 20 specialized business units that work to help companies understand the value of their assets and then monetize that value.

SOURCE Hilco Redevelopment Partners