New Luxury Apartments Coming to Alexandria in 2012
Carlyle Square
When we reported recently that construction of new apartments in the DC area was booming, we weren’t kidding.
The Washington Business Journal reported late last night that Post Properties will soon start construction on a 344-unit luxury apartment complex in the Carlyle section of Alexandria. The project will be the second phase of the company’s Post Carlyle Square development.
From the WBJ:
“The first apartments are expected to deliver in the second quarter of 2012, a period Post forecasts to feature favorable rental conditions. The average unit size will be 906 square feet; Post did not disclose estimated rental rates or provide a breakdown on the types of units.”
The news of new construction of this scale is not all that surprising.
Last week, the multi-family housing research firm MPF Research released a mid-year report stating that apartment occupancy in the DC area for the first six months of the year reached just over 95 percent, and that northern Virginia stood out for its particularly tight market. Also last week, The Bozzuto Group announced that it would be developing hundreds of apartments up and down the East coast, but particularly in the DC area, in the coming years in a multi-million dollar partnership with Pritzker Realty Group.
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This article originally published at http://dc.urbanturf.com/articles/blog/new_luxury_apartments_coming_to_alexandria_in_2012/2333
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Great news! I had assumed this project had fallen through and we were going to be stuck with the vacant warehouse for several more years.