HILCO REDEVELOPMENT PARTNERS (HRP) RECEIVES A VOTE OF APPROVAL FROM ALEXANDRIA CITY COUNCIL

ALEXANDRIA, Va., July 7, 2022 /PRNewswire/ -- Hilco Redevelopment Partners (HRP) announced today the approval of its Coordinated Development District (CDD) plan and related zoning amendments presented at the City Council Special Public Hearing on Tuesday (July 5, 2022). HRP thanks the Alexandria City Council and the Old Town North community for their support and the many productive discussions over the past 16 months, which led to the approval this week. 

HRP wholeheartedly agrees with the sentiment shared by Mayor Justin Wilson during the hearing that "This is a really big deal today and this is a long time coming." The CDD plan sensitively reintegrates the site into the surrounding neighborhood, opens up views and physical access to the waterfront, and creates meaningful open space for all to enjoy. As we work to reinvigorate this shut-down coal-fired power plant site, HRP remains committed to transparent and regular community engagement.

HRP's EVP of Mixed-Use Development, Melissa Schrock is leading this project and is passionate about delivering a product that best serves the Old Town North community. "We are proud of the public benefits the project will deliver including 8-16% affordable housing, over 14 acres of new or improved public open space, environmental remediation of the site, and aggressive sustainability targets, including 25% energy savings, 10% reduction of embodied carbon and 3% on-site renewable energy. We intend to deliver a project that will benefit the Old Town North community and fulfill our shared vision of transforming this blight on the Potomac into a vibrant model of sustainable and inclusive development."

About Hilco Redevelopment Partners (HRP):
HRP (www.hilcoredev.com) is a vertically integrated real estate investment and redevelopment company that re-imagines, remediates, and redevelops obsolete industrial sites across the United States with a uniquely holistic approach to development that prioritizes economic, community and environmental sustainability. HRP's redevelopment expertise ranges from modern logistics and distribution facilities to urban, mixed-use projects, and life science ecosystems. HRP strives to transform not only properties, but also the communities surrounding them through a comprehensive approach to community engagement, environmental sustainability, and economic development. Hilco Redevelopment Partners is a unit of Northbrook, Illinois-based Hilco Global ( www.hilcoglobal.com ).

SOURCE Hilco Redevelopment Partners