Developer Readies $110M Hotel & Condo Project

ALEXANDRIA, VA-Plans for the highly anticipated hotel and condominium development designated for a parcel next to the new 2.5-million-sf US Patent and Trademark Office headquarters in the Carlyle section of Old Town Alexandria have taken a leap toward realization now that developer Regent Partners has said that construction is set to begin.

With the assistance of Marc Magazine, Lewis Miller and Doug Henkel of CB Richard Ellis’ Hotel Development Group, the Atlanta-based developer was able to finalize its partnerships with debt and equity providers, and hotel affiliates and management teams–Wells Fargo is the major lender but the flag under which the hotel will operate is being withheld due to confidentiality agreements–thereby allowing the as yet unnamed endeavor to get under way. The rumored price tag for the project, which will be the first lodging facility to be built in the area in six years, is about $110 million.