County Board Approves Option Agreement with Virginia Hospital Center
The Arlington County Board recently approved an agreement that will grant Virginia Hospital Center (VHC) an option to purchase County-owned land at 1800 North Edison Street. The agreement will allow VHC to move forward with developing a master plan for expanding its North George Mason Drive campus onto the 5.5 acre land known as the Edison Complex.
The Option Agreement is generally consistent with the terms of a non-binding Letter of Intent between VHC and the County that the County Board approved on September 19, which provided the framework for negotiations.
- Option agreement allows hospital to buy 5.5 acres of County-owned land
- Fair market value purchase price – minimum of $12.56 million
- Purchase may include cash, land
- Paves way for hospital expansion
More to come on this developing story.