Alexandria, Va.—Wood Partners has announced that construction has started on Station 650, a $50+ million mixed-used development in Alexandria’s upscale Potomac Yard neighborhood. The 217,000 square-foot building will add 183 new luxury apartments and about 2,500 square feet of retail space to the 167-acre master-planned Potomac Yard redevelopment site by early 2015, according to a press release issued by the company.
The community, which will be flanked by U.S. Route 1 to the west and George Washington Memorial Parkway to the east, was designed by KTGY Group, with Clark Builders Group carrying out the construction. Station 650 will be located less than a mile from two different Metro stations, and is within a close proximity to Old Town Alexandria, Arlington’s Rosslyn-Ballston Corridor, downtown Washington and Ronald Reagan Washington National Airport.
“This is an ideal location for luxury apartments,” says Scott Zimmerly, director of the Mid-Atlantic region for Wood Partners. “Alexandria boasts solid economic indicators and a population that is among the most highly-educated and affluent in the nation.”
Station 650 is poised to receive Washington professionals and retail workers alike, as the neighborhood already boasts nearly 600,000 square feet of retail space, and is located four Metro stops from the Pentagon and two-and-a-half miles from the U.S. Patent & Trademark Office—Alexandria’s largest employer.
The community’s five-story, wood-framed building will house 10 loft units with park views and eight affordable dwelling units in addition to the remaining one- and two-bedroom market-rate apartments. Luxury finishes within the apartments will include granite countertops, stainless steel appliances, vinyl plank flooring and in-unit washer and dryer. Community amenities include an on-site club room, fitness center, game room, bicycle workshop and dog-washing station. A fire pit, demonstration kitchen with bar, multiple grilling and seating areas and a reflecting pool with movie/water wall will be located in the courtyard. The parking area, which will be located on the first floor and underground, will have 239 parking spaces.