PointOne Development to Deliver $1.6B Data Center Campus in Northern Virginia

REMINGTON, VA. —Canada-based PointOne Development Corp. is underway on Remington Technology Park (RTP), a 234-acre data center campus in Remington, a city in northern Virginia. PointOne is investing $1.6 billion to develop the project, which will be supported by 300 megawatts of utility power and will have connectivity to terrestrial and undersea fiber-optic cables. Diode Ventures, in conjunction with Enfinite Capital, secured initial funding for RTP and will continue to provide financial modeling support and capital assembly for the balance of the project. Black & Veatch is providing design-build services. The Diode/Enfinite partnership will operate and maintain the campus upon completion. The project marks PointOne’s first investment in the U.S. data center market. A construction timeline was not disclosed.