JV Closes Financing for VA Waterfront Community
Located in Alexandria's historic Old Town neighborhood, the property will feature three condominium buildings, 26 townhomes, additional ground-floor retail and a renovated pier.
By Beata Lorincz
A partnership of affiliates of EYA, JBG Fund IX—a private fund managed by JBG SMITH Properties—and Mitsui Fudosan America (MFA), have announced a financing deal for the completion of Robinson Landing, a 96-unit D.C.-area residential development located in the historic Old Town neighborhood of Alexandria, Va. Construction work commenced in mid-January, with the first townhomes set to be completed in early fall 2018.
The community will be situated at 10 Duke St., on the bank of the Potomac River. The development will provide 26 townhomes, 70 condominiums, a market and a riverbank restaurant. The Robinson Landing pier upgrades will include floating docks, an outdoor lounge and other spaces designed for public use.
With footing and foundation works underway, the construction of the project’s underground garage will begin later this year, followed by the addition of two five-story, waterfront condo buildings with first-level retail. The third structure, facing Wolfe Street, along with the remodelling of the pier and the setting up of a waterfront promenade, will bring Robinson Landing to full completion, which is slated for early 2020.
EYA Marketing LLC launched sale reservations for all units in November 2017, with 15 residences already reserved at record sale prices. HFF advised the joint venture on the financing transaction.
“We are thrilled to be working with a global leader like Mitsui to create a vibrant waterfront neighborhood with unique architecture that will be the southern anchor to the Old Town waterfront,” said Bob Youngentob, president of EYA LLC, in prepared remarks.
Rendering courtesy of EYA