Business

EYA Development Acquires 8.3 Acres From Federal Realty

EYA Development acquired 8.3 acres, almost half, of the western portion of the Graham Park Plaza, for $20.25 million from Federal Realty.

The section of the shopping center, formerly known as Loehmann’s Plaza, and anchored by Loehmann’s will be redeveloped into a mixed use townhome community which will include new parks and façade improvements to portions of the shopping center.

EYA, the lead developer of the West Falls Church Economic Development project by the new high school, will build 177 townhomes, including 22 affordable dwelling units. Federal Realty, which also owns Falls Plaza, retains the 10.3 acres anchored by a Giant supermarket and home to other retail and restaurants including Celebrity Delly.

Graham Park is located at 7263 Arlington Blvd., less than a mile inside the Capital Beltway.

The renovation project should not affect existing businesses on the Giant supermarket side of the shopping center. The gas station is a separate parcel that will remain while the McDonald’s and PNC Bank pads will remain intact.

For more information, visit EYA’s website and Federal Realty’s website.