$72M DC-Area Senior Housing Community Underway
- May 09, 2017
Atlantic Realty Cos. broke ground on Hunters Woods at Trails Edge, a senior living community project in Reston, Va. The $72 million development project was spearheaded in conjunction with AEW Capital Management and IntegraCare. Avison Young’s Principal Jim Kornick played a role in advising on the deal.
Located at 2222 Colts Neck Road, the 230,000-square-foot project will take the place of the former United Christian Parish Church. The community will consist of 210 units, of which 90 will be designed as independent living, 81 for assisted living, 15 special needs and 24 assigned to memory care. Additionally, the facility will offer 20 percent of the independent living as affordable units, with four percent available for residents who are eligible for the Virginia Department of Ageing and Rehabilitative Services Auxiliary Grant Program. The community will offer activity and dining rooms, a fitness center, arts studio, barber shop and indoor shopping. The asset located on a 4.3-acre land parcel is right across the street from Hunters Woods Village Center, a shopping center anchored by grocery and pharmacy.
Demolition of the existing building is expected to commence immediately and the new facility will be completed by January 2018. The project will create 48 full-time staff positions to the local labor force besides the medical professionals who will provide on-site services.
Rendering courtesy of Atlantic Realty Cos.