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Notes: Alexandria and neighbors lead in office-to-apartment conversion market

Good Monday morning, Alexandria!

☀️ Today’s weather: Partly sunny, with a high near 65. Rain tonight, mainly after midnight.

🚨 You need to know

1101 King Street (image via AREP)

The City of Alexandria and its nearby suburbs, Arlington and Washington D.C., are the leading locations for office-to-apartment conversions, according to real estate site Rent Cafe.

According to the website:

The Washington-Arlington-Alexandria metro area is at the forefront of adaptive reuse, with a planned 5,820 units set to transition from office-to-apartment spaces, representing a 64.5% share of the area’s total conversions.

This marks a staggering 88% increase compared to a year ago, underscoring a robust growth in the region’s housing solutions. The Fort Myers Drive project in Arlington, VA, is the standout in this transformation, aiming to repurpose an office building into 691 new homes.

American Real Estate Partners (AREP) “broke ground” on a conversion project in Alexandria last week, changing a 200,000-square-foot office building at 1101 King Street into a 200-unit apartment development called CityHouse Old Town.

📈 Friday’s most read

The following are the most-read ALXnow articles for March 1, 2024.

  1. Developer breaks ground on major office-to-residential conversion in Old Town (2048 views)
  2. Alexandria Police confiscate handgun from student at Lyles-Crouch School (1860 views)

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