[[{“value”:”
Arlington Approves $3.8M Grant for Mixed-Use Development
The Arlington City Council has approved a $3.8 million grant to support Arlington Center Square, a new mixed-use lifestyle development. The funding will help assemble land for the ambitious project, which is being spearheaded by Mahrouq Enterprises International Inc. A hotel is already under construction on the site, and the full development is expected to include a food hall, retail spaces, restaurants, multifamily housing, and structured parking.
Mahrouq Enterprises owns the land on Division Street where a $54 million, 145-key upscale hotel is currently being built. Under the new agreement with the city, the developer must meet a series of milestones over the next five years. These include delivering a conceptual project brief — complete with a site plan, program, feasibility analysis, and rendering — within 18 months. Construction drawings are due within 36 months, financing should be secured within 54 months, and vertical construction must begin within 60 months.
As part of the agreement, the City of Arlington will establish a long-term lease on the property for parking. If the developer follows through with the project as planned, they will have the option to purchase the leasehold interest in the property.
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