After nearly three years of construction, Inova Health Center — Oakville will be unveiled in a ribbon cutting on Thursday (Oct. 31).
The $300 million Oakville Triangle project at the corner of Swann Avenue and Richmond Highway includes more than 1 million square feet of residential space dedicated to apartments and townhomes, the new 93,000-square-foot health center (400 Fannon Street) with a comprehensive emergency room and 55,000 square feet of retail.
Two developments that could further transform Alexandria’s Mark Center area will be unveiled next month.
The Beauregard Design Advisory Committee will get a first glimpse on Sept. 9 of the multi-use developments at 1900 N. Beauregard Street and 4880 Mark Center Drive. The meeting will be held from 7 to 8 p.m. at Patrick Henry Recreation Center (4653 Taney Avenue).
A little over 1,000 apartments are opening in Alexandria this year, trailing behind D.C. and Arlington as the third most new apartments for any locality in the region.
Apartment search site RentCafe ran the numbers on new apartments opening in 2024 around the region. In a report, RentCafe said the region is on track to open 15,079 new rental units in 2024.
The owner of a nine-acre property says that their mixed-use development on Eisenhower Avenue was held up by the pandemic, and is asking the city for a three-year extension.
The development special use permit (DSUP) on the property at 2927 Eisenhower Avenue expires later this month.
After a rare dip during the pandemic, apartment rents in Alexandria have continued to increase dramatically over the last few years, increasing by 4.8% so far this year.
CoStar data on rents, made available by the City of Alexandria, showed the asking rent per unit has continually risen over the last decade aside from a fluke dip in 2020 due to the pandemic.
It was another busy week in Alexandria.
This week’s top stories focused on development projects all over the city, from Old Town North to Carlyle and in the West End. News of the mixed-use projects comes as affordable housing advocates are protesting against being priced out and are asking for greater assistance from the city.
What a busy week in Alexandria.
This week’s top story was all about money, with a $1 million Powerball ticket getting sold in the Alexandria area of Fairfax County.
A 14-building apartment complex next door to the former Landmark Mall property recently sold for $225 million, the Washington Business Journal first reported.
The City’s Office of Real Estate Assessments confirmed the March 28 sale and the amount, which have not yet been posted online.
(Updated 5:25 p.m.) The owner of an aging office building in Old Town North wants it converted into a 136-unit apartment building, and credits the decision to the “ongoing and diminished office market and current high vacancy rate.”
The five-story, 112,000-square-foot office building was built in 1983. It’s owned by Principal Life Insurance Co. of Des Moines, Iowa, and managed by PF III Abingdon LLC, an affiliate of the D.C.-based real estate investment firm the Pinkard Group.
From protests over evictions to outrage over living conditions, complaints at the Southern Towers Apartment complex in Alexandria’s West End have become somewhat commonplace over the last few years.
The aging five-building complex is home to an estimated 7,000 people living in about 2,000 workforce apartments. One maintenance worker told ALXnow that he fixes at least two riser leaks per month on the property, the most recent of which affected 14 apartments in The Sherwood building last month.
A lawsuit filed by D.C. Attorney General Brian Schwalb over alleged artificial rent inflation will hit some of the region’s biggest landlords, including companies with properties in Alexandria, DCist first reported.
Schwalb’s lawsuit alleges the landlords of acting as a rent-setting cartel that use Texas-based property management software company RealPage to artificially drive up rent prices around the region.
