Stonebridge Breaks Ground On $400M, Wegmans-Anchored Alexandria Project
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Stonebridge, its partners and local officials Wednesday celebrated the groundbreaking of Carlyle Crossing, a 1M SF mixed-use project expected to deliver in fall 2021.
The development team includes Stonebridge, Creek Lane Capital and an institutional investor advised by MetLife. Cooper Carry designed the project and Balfour Beatty and Walsh Construction are managing the construction.
Carlyle Crossing is planned to include over 750 residential units and 210K SF of retail anchored by a Wegmans, which signed on in November 2017 for 84K SF. The grocery store will open on the second level of the project, allowing the remaining retailers to have street-level frontage.
The developer in April 2018 closed on the acquisition of the land, consisting of blocks four and five of the Hoffman Town Center complex. The National Science Foundation recently moved its headquarters to Hoffman Town Center, which also includes an AMC Theatre and several restaurants.
"When we first studied the potential of this site, we felt it offered a rare opportunity to create one of the most dynamic mixed-use environments in the Washington area," Stonebridge principal Doug Firstenberg said in a release. "Three years of planning — working with City of Alexandria — and we are ready to make Carlyle Crossing a reality."
Rochester, New York-based Wegmans has nine stores open in the D.C. suburbs, including another Alexandria location 8 miles away on Telegraph Road. The grocer is expanding quickly in the region, with plans moving forward for its first location in the District and additional stores in Rockville, Tysons and Loudoun County.
Stonebridge has multiple other projects planned in Alexandria, including Oakville Triangle, which had originally been identified for Virginia Tech's Innovation Campus but was later passed over for another Potomac Yard site. Stonebridge in May acquired the long-vacant, 600K SF office building at 5001 Eisenhower Ave., formerly known as Victory Center, and it plans to add residential and retail to the site.
Firstenberg will discuss Stonebridge's Alexandria projects Aug. 27 at Bisnow's Future of Alexandria event at 5001 Eisenhower Ave.