TODAY'S DEALS: Mixed-Income High-Rise Opens in Arlington
Bozzuto, Chesapeake Community Advisors complete a mixed-income high-rise in Arlington; Wood Partners begins a new development in North Carolina; and American Realty Advisors buys a 264-unit community outside of Atlanta.
Arlington, Va.—A new mixed-income high-rise has opened for business in Arlington, Va. The asset, vPoint, was co-developed by Bozzuto Development Co. and Chesapeake Community Advisors, and in partnership with Arlington County. It is located a half block from the Clarendon Metro station and has 46 market-rate apartments and 70 affordable units in a mix of studios, one-, two- and three-bedroom floor plans.
vPoint enjoys a host of sustainable design elements, including bike storage, Energy Star appliances, low VOC paints, Green Label Plus carpet and recycling centers of each floor. The project is registered with the U.S. Green Building Council and is expected to achieve at least a LEED Silver certification.
Wood Partners begins N.C. development
Morrisville, N.C.—Wood Partners has commenced a $34 million luxury apartment community located in the new Park West Village in Morrisville, N.C. The 260-unit community will be known as The Bristol and is located at 3016 Bristol Creek Drive. First occupancy is expected for February 2013.
“The Bristol brings a first-class living experience to the shopping, dining and entertaining environment of Park West Village,” says Carter Siegel, a director at Wood Partners. “Our residents will be able to walk out their front door and stroll across the street to the first state-of-the-art Stone Movie Theater in the area, shop at a range of top retail stores and dine at one of the new restaurants and bars that will make this such a compelling place to call home.”
The Bristol will be comprised of eight building with three, four and five stories. Units will be a mix of town homes, lofts and two-story carriage units. Amenities will include multiple court yards, a clubhouse, fitness center, billiards room, internet café, salt water pool, cabanas, dog park and grilling area.
American Realty Advisors buys luxury Atlanta-area asset
Atlanta—American Realty Advisors has completed the acquisition of a 264-unit property located outside Atlanta near North Point Mall. The asset, ALARA North Point, is a Class A community featuring a pool and fitness center.
The purchase was announced alongside four additional transactions comprised of industrial, office and retail assets.
