More Residential Development for Alexandria's Carlyle Neighborhood

Atlanta-based Post Properties announced last week that it will begin construction on phase two of its Carlyle Square apartment project in Alexandria. The development company is confident that they will find enough Metro riders to overcome area's traffic congestion and fill the new 344-unit apartment building. Each unit at 601 Holland Lane will average 906 s.f. of freshly designed contemporary interior space, located not far from Ballenger Avenue in the southeastern corner of the increasingly dense Carlyle neighborhood.

Total development costs are estimated to top out at $95 million. Post is expecting to benefit from cyclically low construction costs, and will bankroll the project using its unsecured revolving lines of credit, it reports. Post hopes to deliver the first apartments in the spring of 2012, a time which the company predicts will present favorable rental conditions.

Architect Sami Kirkdil of SK&I Architectural Design Group received praise and an award from Builder Magazine for his massing arrangement on Post's last Carlyle building, elegantly blending a rather large building into the roof-lines of its smaller surroundings. SK&I will again shoulder the design responsibilities for phase two of the Post Carlyle. The new building will consist of a 4-story structure abutted by a glowing 14-story tower of metal and illuminated glass intended to suggest a glowing lantern. The residencies will be amassed atop 425 below grade parking spaces.

Alexandria Virginia Real Estate Development News

Post Park Coming Soon to Post-Hyattsville

After forty years of relative imperviousness to real estate development in neighboring Washington DC, the Prince George’s County hamlet of Hyattsville is finally taking advantage of its seat just one mile from the District line. First came new development at the aging University Town Center, which was followed shortly by EYA’s Arts District Hyattsville project – an ongoing undertaking that’s been a shot in the arm for the town’s main corridor along Route 1. Now Atlanta-based developer Post Properties, Inc. has begun construction on a new phase; their Post Park development at 3300 East West Highway.

Located on a 7-acre parcel just off of MD 410, Post Park will be a serious addition to the Prince George’s County market – especially along the busy thoroughfare known more for its drive-thrus and strip malls than big ticket residential properties. The developments primary building will measure in at 466,700 square feet and four to five stories, for a total of 364 new residential units. 1750 square of retail space will occupy the building’s ground floor, while a 544-space parking garage will serve residents only (and not patrons of the Prince George’s Plaza Metro Station just 1600 feet away).

Post has dubbed their units “apartment homes” and will be offering, in "late 2009," finishing touches like stainless steel appliances, granite countertops, ceramic tile floors, high ceilings, and access to the in-house fitness center and swimming pool to prospective residents. Per a request from the Prince George’s County Planning Board (PGCPB), the developer will also be constructing an 8,000 square foot plaza at the intersection of East West Highway and Toledo Terrace and include a connection to the neighboring Northwest Branch Stream Valley Park – one that according to PGCPB “will contain little or no transition to the park and…make the park an amenity for [Post Park] residents.” Niles Bolton Associates is handling designs for the project, while Clark Builders Group is serving as general contractor.In a move similar to EYA’s intentions for the township, Post - in tandem with the Hyattsville Community Development Corporation (HCDC) - is currently accepting submissions from local artists interested in contributing to the project’s public arts component (and the more they stand out against their Home Depot backdrop, the better). Any and all entries are due to Stuart Eisenberg, Executive Director of the HCDC by January 16^th.

Prince George's County real estate development news