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553-Unit Macy's Redevelopment In Ballston Secures Financing

  • October 9th

by UrbanTurf Staff

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Ballston Render.jpg
A rendering of the new development. 

Significant financing has been announced for a major mixed-use project in Ballston. 

On Thursday, FCP® announced a $47.1 million capital investment to finance the 553-unit residential project at the former Macy’s site at 685 N. Glebe Road (map) in Ballston Quarter. Developed by Insight Property Group in partnership with PGIM Real Estate, the two 16-story towers -- Mira and Ador -- will bring hundreds of luxury apartments and a new grocery store to the site. 

Work has already begun on the SK+I Architecture-designed development that has been four years in the making. A grocery brand has yet to be named, although Insight has said in the past that it will be an organic grocer, which has some speculating that it will be a Whole Foods Market. 

The Ador tower will offer a boutique-style aesthetic, with amenities including a hospitality bar, resident co-working lounge, a yoga studio, and even a penthouse-level piano lounge. Residents of both towers will share access to a rooftop pool and sundeck, along with other outdoor common areas. The delivery date is set for 2028. 

For a look at the other projects in the works around Ballston, click here. 

See other articles related to: ballston development, ballston macys

This article originally published at https://dc.urbanturf.com/articles/blog/553-unit_macys_redevelopment_in_ballston_secures_financing/23953.

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