Alexandria, VA Mixed Use Project
The Beacon of Groveton
The Beacon of Groveton is a 360,000 sq. ft. mixed-use development in Alexandria, VA. Construction of Phase I consisting of 290 luxury residential units and 10,000 square feet of ground floor retail began in March 2011. Equity financing was provided by CBRE Investors, Redbrick and Wood Partners. Debt financing was provided by JP Morgan Chase. The project is located adjacent to the Beacon Shopping Center in Alexandria, Virginia, and has a shuttle service to the nearby Huntington Metro Station. The Beacon of Groveton benefits from its proximity to Fort Belvoir which is expected to gain more than 20,000 new BRAC jobs and is within easy commuting distance to the major employment centers of downtown Washington, DC and Northern Virginia. The project delivered its first units in the fall of 2012 and is leasing up briskly.
For progress updates click here.
900 Thayer Avenue, Silver Spring, MD
900 Thayer Avenue is an approximately 120,000 gross sq. ft. mixed-use development in Silver Spring, MD. Equity financing was provided by Chesapeake Realty Partners and Redbrick. The project is located two blocks from the Silver Spring metro and two blocks from downtown Silver Spring. The project is expected to begin construction in the second half of 2013.
Washington, DC Multifamily Project
Redbrick Development Group is serving as the developer on a site recently acquired by a Redbrick affiliated venture. The site is close to the Georgia Avenue/Petworth metro, a rapidly gentrifying downtown Washington, DC neighborhood. The project is currently being entitled for a multi-family building. This project is an example of our Development Partner program in action.
Redbrick has additional development projects in its pipeline totaling more than 1,000 units in the Washington, DC metro area.