What are your thoughts on the recent approval for the development of a 4.7-acre Boeing HQ at Crystal City?
Will it bring the kind of growth you believe Arlington needs?
Having the Boeing HQs in Crystal City facilitates Boeing's commitment to Arlington and brings significant value to Arlington. Boeing's presence brings: confirmed jobs and occupancy as BRAC is implemented, significant tax revenues, and a return of density to the Twin Bridge site. The approval of the Boeing HQ also raised many discussion items, including:
For the most part, many of our larger employers are occupying 60-90k square feet of space. Do we want to maintain this sweet spot or do we want to make larger spaces available for larger employers?
For new construction, in many cases, the county requires mixed use building with retail on lower floors and office space above. In the case of Boeing, this requirement was waived. Will this be a limited or repeated exception?
In order to meet our budgetary demands and tax revenue needs, Arlington requires new businesses to come to Arlington and new commercial construction each year. Should we revisit our budget growth in order to not rely on these new revenues each year?
Based on the information that is publicly available, including BRAC and the need to find stability, I believe the approval of the Boeing HQ was the right decision at the right time.