XAG Group has purchased 20 acres of land to construct a mixed-use retail center, which will feature a multifamily community. The project is located in the 3,000-acre Montgomery County master-planned community known as Audubon and will be built out in two phases.
The first phase includes an approximate 30,000 square foot two story retail center that houses specialty stores and restaurants surrounded by pedestrian friendly outdoor areas. XAG anticipates the opening of this phase to occur early 2024.
The second phase consists of Rasha at Audubon – a three story garden style apartment complex with four story mid rise apartments offering 326 units total; 184 one bedroom apartments, 126 two bedroom units and 16 three bedroom units respectively. These mid rise apartments are equipped with business centers and co working spaces along with fitness centers, yoga studios family movie theaters and game rooms for residents’ convenience . The first unit is expected to be delivered during the first quarter of 2025
CIM Group CMCT Completes Partial Apartment Conversion of Los Angeles Offices
CMCT, a REIT managed by CIM Group’s affiliates, has successfully transformed the top two floors of a three-story office building
Steve Griffin
September 19, 2024
