The new owner of Market Common Clarendon is proposing major changes to the sprawling development.

Regency Centers has filed a preliminary site plan to rezone and redevelop a group of buildings along the 2800 blocks of Clarendon and Wilson Blvds. The affected properties include an office building, IOTA Club and Cafe, the former A&R Engravers storefront and the Baja Fresh restaurant.

The redevelopment would mean the partial demolition of the building that holds IOTA and the former engraver’s shop, while preserving and restoring the shop’s “historic facade.” The work would likely force IOTA — a well-loved cafe, outdoor bar and live music venue — to close its doors or relocate.

When asked about the plans, IOTA co-owner Jane Negrey Inge said she did not expect the renovations to happen “any time… soon.”

Over the years we’ve seen a lot of excitement around us. In our first couple years Arlington County sold the public alley behind us to the owners of the Sears Building and we became landlocked! It was disappointing but we worked things out and over the years we’ve maintained a spirit of cooperation with our neighbors and various land-owners. As far as we know changes are coming again with new owners but I don’t think 2832 Wilson will come crashing down on our heads any time real soon. Spring is going [to] spring into gear, and we’ll be glad to re-open the IOTA Back Alley for the season and enjoy good weather, good beer, good friends — which sounds like a good development plan to me!

Additionally, under the plan, the renovation would add a fourth floor and approximately 26,784 square feet of additional space to the office building at 2801 Clarendon Blvd. Regency seeks to upgrade the office building’s facade, redesign the first two floors for office or retail use, add new storefronts on the ground floor and possibly use the basement for public self-storage.

The plan also calls for improvements to the open space at the corner of Clarendon Blvd and N. Edgewood Street, new private outdoor roof terraces and the installation of a “partial green roof.”

“The design and condition of the existing office building, which predates Market Common Clarendon redevelopment by many years, is not consistent with the remainder of the development,” the preliminary site plan filing says. “With the improvements proposed by the Applicant, the office building will be more effectively integrated into Market Common Clarendon and will allow for the much-needed repositioning of the vacant office space in order to attract new commercial tenants.”

“This [proposed redevelopment] creates newly competitive office and retail space in a building with high-quality architecture within easy walking distance to many community amenities in Clarendon,” the filing adds.

A representative for Regency Centers didn’t immediately provide more information about the proposed redevelopment, which is still in its early stages.

To move forward, the plan must be reviewed by the Site Plan Review Committee (SPRC), then be presented to both the Arlington Planning Commission and the County Board.