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Paradigm Buys Capitol Riverfront Development Site, Plans Residential

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Paradigm Capitol Riverfront development site
Paradigm's Capitol Riverfront development site

Akridge sold a prime Capitol Riverfront development site to Paradigm Development earlier this month. 

The site, made up of 14 separate properties bound by New Jersey Avenue SE, 1st Street SE, K Street SE and L Street SE, sold for more than $21M. 

Akridge had been planning to build a 220k SF office building there, but after failing to find an anchor tenant, decided to put the site on the market in May. 

Paradigm has plans for a 275-unit apartment building, JDland reported. Paradigm delivered its 25-story, 505-unit Parc Meridian building in Alexandria this summer. 

In addition to the vacant site, the block includes Eagle Academy Public Charter School on its southeast corner.