Fairfax-based Van Metre Companies announced today (Aug. 18) the acquisition of a 110-townhome development site at Alexandria’s sprawling WestEnd development.
Van Metre bought the property last month for an undisclosed amount. On blocks L and M of the development at 5801 Duke Street, the three-level townhomes will feature front and rear terraces with private parking garages.
Construction hasn’t started yet on the project, and the company said it will start reserving homes for contract next spring.
“This acquisition is a strategic land play in every sense,” said Kevin Campbell, president of land at Van Metre Companies, in a statement. “WestEnd is being built into one of the most significant mixed-use redevelopments in the Washington region, anchored by a new hospital campus and hundreds of new residential units already underway. Getting Van Metre Homes into a site like this, early, is exactly how we build long-term value.”
Foulger Pratt, Howard Hughes Communities, and Seritage Growth Properties are leading the overall development of the 52-acre WestEnd site, which is the former home to Landmark Mall. The property will be home to more than 2,500 new residential units, the new Inova Alexandria Hospital at Landmark, 300,000 square feet of retail, four acres of parks and open space and a transit hub. The city is also considering relocating one of its fire stations to the area.
In a release, Van Metre said that the site’s location near Interstate 395 and within 20 minutes of Ronald Reagan Washington National Airport, Old Town and D.C. was an important factor in buying the property.
“The acquisition underscores Van Metre Land’s continued strategy of identifying well-positioned sites within transformative multi-phase developments, securing locations early enough to capture the benefit of surrounding investment as it matures,” the company said. “With WestEnd, Van Metre joins a roster of builders and partners shaping a new downtown-scale district.”
Developers broke ground on the first 390-unit residential building at WestEnd in June and expect to complete it in 2028. Inova Health System is also targeting completion of the four-building hospital campus by 2028.
