EagleBank recently originated an acquisition and land development loan for a JV of Elm Street Development and Craftmark Homes for the purchase of 155 residential townhome lots. The project encompasses 13 acres at the northwest corner of Westfields Boulevard and Route 28 in Chantilly. Townhomes will be constructed on 89 of the lots, and the remaining 66 lots will be sold to a third party. Land development work will begin this summer, with vertical construction beginning Spring of 2017. The site is part of a larger project that will include office, retail, and multi-family. The property benefits from its proximity to nearly 8M SF of office space in the surrounding area, and significant retail development that is occurring on the east side of Route 28.