Amazon Buys Land For New Headquarters In Virginia
The acquisition cost Amazon $154.95 million and was carried out on January 15th. The land was bought through its subsidiary Acorn Development from JBG Smith. The large plot of land will serve as the site for Amazon’s HQ2.
The headquarters will be made up of a 22-story office building. It is expected that the company will start relocating to these offices in 2023.
The site currently holds a large warehouse. However, the construction firm ACECO already has plans to move forward with demolition of the warehouse.
Amazon has also gained approval from local government to begin construction. The Arlington Board approved plans for construction of 2.1 million square feet of office space. Additionally, the office building will have room for retail shops. Approved plans allot 67,000 square feet in retail space.
Additionally, there were negotiations between Arlington County and Amazon before approval of construction. More specifically, Amazon will have to contribute $20 million to affordable housing in the county and will also donate $14 million towards maintaining green space surrounding Met Park.