The MetroStage theater in Old Town Alexandria could soon be converted into a multifamily project with a large arts component.

Carr Cos. — the company run by Oliver T. Carr Jr., the father of Carr Properties CEO Oliver Carr III — has submitted an application with the Old Town North Urban Design Committee to convert the building at 1201 North Royal St. into at least 90 multifamily units, a 3,045 SF art gallery, an arts walk, two art studios and several artist lofts, the Washington Business Journal reports.

The project sits along the Mount Vernon Trail overlooking the Potomac River at the intersection of North Royal and Third streets. It sits next to the 25-acre Potomac River Generating Station that is slated for a 2.1M SF mixed-use development.

Carr is also working on the redevelopment of Alexandria's Crowne Plaza Hotel at 801 North Fairfax St., where it plans to add 40 townhouses around the hotel tower. The developer plans to move MetroStage to the Crowne Plaza site and convert the hotel to residential. The company last year completed its 120-room Hotel Indigo on Old Town's waterfront.