Anyone who's ever taken the Telegraph Road exit off the Beltway knows the eyesore that's the Huntington area of Alexandria. But with road improvements, a new Wilson Bridge, and a Metro stop surrounded by underutilized land, developers are dusting off their shovels. MRP Realty principal Matt Robinson tells us his company--in a JV with AEW Capital Management--has a mixed-use plan for six acres (purchased in December '12 for $22.5M) adjacent to the Huntington Metro. It will include 370k SF of residential, 260k SF of office, and a 110k SF hotel.
With rezoning approval from Fairfax County last November, the project will also gain height with the office building soaring at 165 feet, the hotel at 120 feet, and residential at 75 feet tall. While the hotel doesn't have a brand behind it yet, Matt says its height will give it visibility from the Beltway. He says the ability to build an above-ground parking deck for residential right next to the Metro is also a rare opportunity. The team is in the process of doing site plans and drawings for the building permit, but Matt says the residential piece should be completed in early fall. Some of the land will be used for a temporary park before the office and hotel break ground.
Capital Investment Advisors is also interested in Huntington, with its proposal to build 275 multi-family units and 20k SF of retail. Managing partner Rebecca Pelino,-- here with her partner Stephen Bannister-- says zoning approval is pending, but she expects the project to break ground in the first half of 2014. The company already has had some success in the area with its major renovation of Huntington Gardens, an abandoned 113-unit residential building that it sold last summer. She says Huntington could start competing with Old Town Alexandria, with lower residential and office rates and access to Metro and highways. Insight Property Group also has a 240-unit apartment project in the works for Huntington.
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