A First Look at the Redevelopment of the Old Town North Power Plant

For decades, Alexandria’s waterfront has been defined in part by the towering stacks of the Potomac River Generating Station in Old Town North. Now, the 20-acre site is on the brink of a massive transformation. Hilco Redevelopment Partners (HRP), which purchased the property in 2020 for an estimated $12–15 million, has unveiled plans to replace the former coal-fired power plant with a mixed-use community that emphasizes walkability, sustainability, and cultural vibrancy.

The Vision for the Site

The redevelopment will bring up to 2,000 new residences, including 160 affordable housing units, alongside 500,000–1 million square feet of commercial space. Plans call for a wide mix of restaurants, retail, arts, and cultural venues, creating a waterfront district that feels connected to 

Old Town while offering fresh energy and amenities.

At the heart of the design is a commitment to making the site pedestrian-friendly. HRP’s goal is for residents and visitors to feel as though they are walking through the fabric of Old Town rather than navigating between isolated new buildings. Wide sidewalks, pedestrian-focused streets known as woonerfs, and open-air dining plazas will reinforce this sense of community and connection.

What’s Coming to the Waterfront

The project includes more than 10 acres of public open space, making it one of the largest opportunities for community access along Alexandria’s waterfront. Visitors can expect:

• Waterfront dining and rooftop bars with sweeping river views

• Public green spaces, dog parks, and children’s play areas

• Opportunities for kayaking and other water sports

• Farmers' markets, cultural events, and seasonal gatherings

• A 15,000 sq. ft. subsidized arts and cultural hub linked to Fairfax Street

Public art will be integrated throughout the development, further reinforcing Old Town’s identity as a center for creativity.

Architecture and Design

The site will be built in phases, with shorter buildings near Old Town and taller ones (up to 16 stories/172 feet) toward the northern end.

• Block B: Condominiums with ~115 units in a triangular glass design that follows traffic patterns while optimizing views.

• Block C: Apartments with ~200 units, designed in a curved “lantern” shape that respects pedestrian areas and river sightlines.

• Residential Mix: From compact studios to spacious three-bedroom units, reflecting Alexandria’s diverse housing needs.

Underground parking garages will serve the entire site, keeping cars off the street and maximizing open space for pedestrians.

Sustainability at the Core

The development will reuse materials from the power plant to reduce waste and integrate sustainability throughout:

• Green roofs and bioretention areas for stormwater management

• Energy-efficient building systems that reduce heating and cooling demand

• Design choices aimed at lowering the site’s overall environmental footprint

HRP has emphasized its goal to deliver not just new buildings, but a model of sustainable urban living that ties into the existing character of Old Town North.

Deconstruction of the Plant

Before new construction begins, the existing power plant must be carefully dismantled — a process expected to start no earlier than 2027.

The smokestacks, turbine hall, and other structures will be taken down in stages using specialized equipment, including a custom crane built in Europe with a 160-foot reach. This slower method is more expensive but is considered the safest and most responsible way to remove the structures.
Mitigation measures will be in place throughout, including:

• Rodent, noise, dust, and vibration controls

• Third-party monitoring with results made public

• Property condition surveys for neighbors before work begins

• Licensed contractors managing asbestos removal and disposal

Deconstruction will unfold in four overlapping sequences, with the longest phase taking about 20 months.

What’s Next for Alexandria

Though still years away, the redevelopment of the Potomac River Generating Station represents one of the most ambitious projects in Alexandria’s history. If realized as envisioned, the site could reshape Old Town North into a destination for living, dining, arts, and recreation, while opening up more than 10 acres of public open space along the city’s waterfront.

For now, the familiar smokestacks remain a landmark on the Potomac skyline — but in the not-so-distant future, they may give way to a new chapter in Alexandria’s story.

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