American Real Estate Partners (AREP) and Silverpeak Real Estate Partners have commenced construction on CityHouse Old Town, a rental development in Alexandria, Virginia. This project will transform a former 200,000-square-foot office building into approximately 200 homes ranging from studios to three-bedroom apartments with a den.
Situated at 1101 King Street, the development is set to begin pre-leasing in Summer of 2025 and is expected to be completed by Fall of that year. The amenities offered will include concierge services, private club suite access, fitness facilities and close proximity to the King Street Metro station. Cooper Carry along with RD Jones and Hoar Construction are leading the design and construction efforts while Bozzuto Management has been appointed as property manager upon completion.
According to AREP co-founder & president Brian Katz: “Converting offices into residential spaces is highly sought after but finding feasible opportunities in desirable markets can be challenging. CityHouse Old Town offers an exceptional opportunity for our partners due its prime location, floor plan options and cost basis.”
