Bethesda, MD/Woodbridge, VA (Oct. 17, 2011) – Bainbridge River Oaks Apartments (top left rendering), a 294-unit luxury apartment community, is now under construction in Woodbridge, Virginia near the thriving Ft. Belvoir military base.
The development is a joint venture between Starwood Capital Group Global, a privately-held global real estate investment firm, and The Bainbridge Companies, a fully-integrated group of multifamily real estate companies.
“Bainbridge River Oaks will be right in between rapidly-growing Fort Belvoir, which will have a larger workforce than the Pentagon, and Quantico Marine base, ” said Bainbridge Mid-Atlantic Regional Development Manager Neil Goradia (middle right photo). “It will provide much-needed high-quality housing in an extremely tight market. Research shows that the area is projected to grow more than 12% over a 15-year period,” Goradia added.
The 2005 Base Realignment and Closure Commission (BRAC) called for a $4 billion expansion of Ft. Belvoir, which was already one of the largest employers in Fairfax County. The expansion adds more than 19,000 more workers to the base.
The new community is designed to have spectacular amenities including a swimming pool and sun deck as well as a clubhouse with a state-of-the-art fitness club, cyber café, billiards area and fully-equipped business lounge. Elevators will be available in some buildings.
Cline Design of Raleigh, North Carolina designed the Craftsman Style buildings, which feature exterior stone detailing. Kitchens in the one- and two-bedroom apartments will have stainless Energy Star appliances and granite-style countertops. Energy-efficient fixtures and lighting are planned as well, to keep utility costs low.
The first apartments are expected to be completed in the summer of 2012, with full completion planned for early 2013.
Earlier this year Starwood and Bainbridge embarked on another significant joint venture – the acquisition of 1,626 apartment units in Virginia and Maryland. Bainbridge also started construction this year on Bainbridge Bethesda, a new high-rise community in Bethesda, Maryland; and Campus Circle Tallahassee, a new luxury student housing community in Tallahassee, Florida.
Additional information about Starwood Capital can be found at http://www.starwoodcapital.com/.
Contact: Terri Thornton, 404-932-4347 (Cell),
1 comment:
Wow, Fantastic Blog, it’s so helpful to me, and your blog is very good,
Post a Comment