Virginia Tech selects location for new £788m innovation campus
June 12, 2019 – Virginia Tech has selected site in Alexandria, Virginia in the US to build its Innovation Campus with an investment of $1bn (£787.6m).
In partnership with real estate investment firm Lionstone Investments, Virginia Tech will build the new one million ft² graduate campus as part of a 65-acre mixed-use district planned and developed by Lionstone and real estate investment trust JBG SMITH.
The new mixed-use development is located in National Landing, just steps away from the planned Potomac Yard Metrorail Station.
Virginia Tech president Sands said: “We’re extremely pleased to have this opportunity, in partnership with Lionstone, to establish the Innovation Campus in the heart of the National Landing technology district.
“It is the ideal location to support Virginia Tech’s bold plan to develop new tech talent, disciplines, programs, and human-centered research that will shape the economic future of the commonwealth and beyond.”
The campus will comprise academic classrooms, offices for industry collaboration, incubator space for new startups and research and development, and convening space for alumni events.
Expected to triple the university’s footprint in Northern Virginia, the Virginia Tech Innovation Campus will comprise 300,000ft² of academic space and advanced research-and-development facilities; and 250,000ft² of partner space dedicated to startups and corporate facilities.
It will also feature 350,000ft² of housing space for students and faculty; and 100,000ft² of retail and support spaces.
Lionstone president Jane Page said: “We are delighted to partner with Virginia Tech to transform this area into a leading center for innovation on the East Coast while setting a new standard for anchoring a mixed-use environment with a premier educational institution.”
The Innovation Campus will be located in the Alexandria portion of National Landing near Potomac Yard, and about 3.2km from Amazon’s new headquarters location in Arlington.
Virginia Tech, which unveiled plans to build the Innovation Centre in 2018, plans to enroll the first class of Innovation Campus master’s degree students in the fall of 2020.
Once completed in about 10 years, the campus will have about 750 master’s candidates and hundreds of doctoral students and postdoctoral fellows.
Virginia Tech operations and administration senior vice-president Dwayne Pinkney said: “We’ve made a commitment to the commonwealth and the community of Alexandria to work with civic groups and corporate and nonprofit partners to fully integrate the new Innovation Campus into the community.”