Trademark completed the purchase of Arlington’s Lincoln Square shopping center
as the council was first considering incentives.
“Lincoln Square has been an iconic north Arlington property for nearly 40 years, but the aging property has not seen the innovations or private investment needed to keep it market relevant,” said Arlington Mayor Jim Ross.The city estimated that the lack of investment and empty spaces at Lincoln Square have not only meant the loss of jobs for residents but also the loss of an estimated $1 million a year in direct sales and property tax revenue.
“We are confident we can create a world-class destination that will upgrade the area’s offerings and be a catalyst for further growth of the neighborhood and its cultural, sports and entertainment venues,” said Terry Montesi, CEO of Trademark. The city of Arlington selected Trademark over other proposals for Lincoln Square and said it expects Trademark to spend more than $250 million on the project.
“We appreciate the confidence and support of the city of Arlington leadership and its participation in this public-private partnership, and we are ready to get the project rolling,” Montesi said. “We have found Arlington to be one of the most innovative, savvy and responsive cities we have ever worked with.”
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