The Washington Business Journal is reporting that Alexandria will soon be getting brand new apartments. Soon as in 2012 that is…but regardless, this is great news for the area. The Alexandria area has tons of Northern Virginia condominiums and Northern Virginia apartments, and this will be another welcome addition.
“The 344-unit luxury apartment building will be built on Holland Lane near Ballenger Avenue in the city’s Carlyle section near the Patent and Trademark Office headquarters.
Total development costs will run about $95 million, the company said, noting that it expects to benefit from “cyclically low construction pricing.” Post said it will fund the construction through its unsecured revolving lines of credit.
The first apartments are expected to deliver in the second quarter of 2012, a period Post forecasts to feature favorable rental conditions. The average unit size will be 906 square feet; Post did not disclose estimated rental rates or provide a breakdown on the types of units.”
You can read WBJ’s full report here: Post Properties to begin construction on Alexandria aparments – Washington Business Journal.
While renting apartments is definitely a good move for some, the DC Metro area is one of the best areas in the United States to go from renting to buying(as reported by Forbes).
So check out all of our Downtown DC Condominiums that you can buy through CondoDomain DC, perhaps a unit in the City Vista complex?