(Read more on the multifamily market.)
ARLINGTON, VA-Woodfield Investments has begun demolition of a shuttered Safeway building on 1.5 acres at 2301 Columbia Pike to make way for development of the Siena Park mixed-use development. Siena Park will contain 188 rental residential units, 32,000 sf of ground-floor retail and 14,000 sf of office space on the second level.
Margaret Smith Ford, a Woodfield principal, tells GlobeSt.com the estimated construction cost is $88 million, and it is expected to reach completion in late 2009. The Safeway closed in March 2005, and Woodfield acquired the property for $12 million in December 2006.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.