Amazon has confirmed to local media outlets that it is pausing construction on phase two of its second headquarters facility in Arlington, VA.
While the second phase of the $2.5-billion investment campus, dubbed HQ2, is being delayed, the first phase is expected to open on time this June and will be occupied by 8,000 employees.
“The construction moratorium (on phase two) will delay the online retailer’s full arrival at its biggest real estate project, and could create headaches for local developers, as well as construction and service workers banking on Amazon’s rapid expansion,” reported Bloomberg.
Phase two of HQ2 was approved by the Arlington County Board in April 2022 would have come with hundreds of construction jobs, nearly three million square feet of office space and a futuristic, nature-inspired building.
Thus far, this move is being described as a “pause” and not a cancellation. The Business Journal reports that Amazon still plans to apply for permits associated with the project’s second phase.
Earlier this year, Amazon announced plans to lay off more than 18,000 employees across the company.
The post BREAKING NEWS: Amazon Pauses Construction of HQ2 Phase Two in Arlington appeared first on Connect CRE.
Amazon has confirmed to local media outlets that it is pausing construction on phase two of its second headquarters facility in Arlington, VA. While the second phase of the $2.5-billion investment campus, dubbed HQ2, is being delayed, the first phase is expected to open on time this June and will be occupied by 8,000 employees. …
The post BREAKING NEWS: Amazon Pauses Construction of HQ2 Phase Two in Arlington appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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