The residential arm of Dallas-based developer Trammell Crow Residential (TCR) today announced imminent groundbreaking for its latest "luxury rental apartment community" in south Arlington. The project, entitled Alexan Twenty-Four, was first announced last summer, and is being billed as joint partnership 
with Prudential Real Estate Investors (PREI), a division of Prudential Insurance Company of America that commands over $20 billion in net assets. The 217-unit development will include 20 units reserved for affordable-housing and will come in at five stories once completed. The developer is promising "resort-style amenities" for future residents, including "a pool, clubhouse, fitness facility, game room and business center."
The uniquely titled project gets its name from its location at 2400 24th Road South, the former site of an Econolodge motel, following its "Alexan" brand. Despite the parcel’s pedigree, the Bank of America will be supplying $70 million in construction. The site stands roughly a quarter mile from the bustling intersection of Glebe Road and I-395.
A press release from the developer hypes the site as "a natural extension of the famous Rosslyn-Ballston corridor," one that also includes the boutique “urban village” of Shirlington, Columbia Pike and the historic community of Nauck.
Alexan 24 is expected to commence work shortly with a scheduled delivery date somewhere in the third quarter of 2010. TCR broke ground on its last project, the Alexan Carlyle, last January.
Arlington Virginia retail and commercial real estate news
5 comments:
FYI - The Dumont condo at 425 Massachusetts Ave has "temporarily" closed its sales office.
natural extension of the Rosslyn-Ballston corridor? Right. Kind of like Landmark Mall is a natural extension of Old Town Alexandria. At least it will take distract those passing by from the hideous Dittmar rental rehab next door.
This is off topic, but there is no other way to contact the posters of this blog. I understand that this blog gives us updates on the developments going on in DC. And I must say it's the most frequently updated blog I have read to date. My question is, though your main focus is development in the district, I have noticed that your posts comment on developments in VA as well. Do you cover just DC and VA? I notice that posts commenting on MD development is almost never mentioned. Do you not have any contributers who can focus on MD development? Specifically those areas inside the beltway. Thanks.
I believe when this project was initially approved by Arlington County, it was approved as a condominium development. Given today's real estate situation, I'm not surprised that they've transitioned to a rental apartment format.
Adelphi;
Thanks for your comment. Yes, we do cover Maryland issues, though we stay pretty close to DC in our coverage. If you have topics you think should be covered, feel free to send us an email with the request; send the request to blog@dcrealestate.com
And thanks for the flattery, we agree with every word.
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