Both parties signed a 15-year lease on May 26. That lease gives the city the option to purchase the property if it chooses. The IDA will move into its new Potomac Yard headquarters, at 730 East Glebe Road, in 2022. Construction should be completed by 2021.
“This is a key milestone in our progress toward Potomac Yard occupancy and continued
advancement of our work for our sponsors,” said IDA President and CEO Norton A. Schwartz.
“Eight years ago, we committed to move into a new building in Potomac Yard equipped with the
latest technology and security requirements to better support our growing organization.”
Alexandria is expected to occupy the Mark Center building in February 2023, after a one-year refurbishment is complete. Under the lease terms, the Department of Community and Human
Services and the Alexandria Health Department to consolidate into a single location that is more fitting for collaboration and better serves the public.
IDA is a nonprofit that operates three federally funded research and development
centers. In the public interest, the corporation answers challenging U.S. security and science policy questions with objectivity, relying on scientific, analytical, and technological expertise.
“IDA’s partnership with the city began nearly 40 years ago when we relocated our headquarters
facility to the Mark Center,” said IDA Senior Special Projects Manager Dean Graves. “With this
lease and our relocation to Potomac Yard, our longstanding partnership will continue many
decades into the future.”