TCR Breaks Ground on 280 Rental Apartments in Alexandria, Virginia

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Just two blocks from the new U.S. Patent and Trademark Office headquarters complex in Alexandria, VA, award-winning Trammell Crow Residential (TCR) is developing Alexan Carlyle, a 280-unit rental apartment community. Ground has been broken for the project, and the first units are scheduled to deliver in the third quarter of 2009.

Just two blocks from the new U.S. Patent and Trademark Office headquarters complex in Alexandria, VA, award-winning Trammell Crow Residential (TCR) is developing Alexan Carlyle, a 280-unit rental apartment community. Ground has been broken for the project, and the first units are scheduled to deliver in the third quarter of 2009.

Alexan Carlyle is capitalized at $94 million in a joint venture between TCR and Olayan America Corporation, with construction financing provided by PNC Bank. It will be located on a 2.8-acre parcel located at 800 John Carlyle Street in the prestigious Carlyle neighborhood of Alexandria, Virginia.

TCR's latest luxury apartment development in the Washington, D.C. metropolitan area will have five stories and a variety of resort-style amenities including a pool, clubhouse, exercise room, billiards room, business center, and more. The single building, designed by Cubellis DCA, incorporates three distinct architectural styles. One portion of the building reflects the classic Federal architecture of nearby Old Town Alexandria; another has art-deco flair; and the third brings to mind airy loft dwellings created from urban warehouses.

Anchored by the two million square foot PTO complex, which was completed in 2005, the 77-acre Carlyle neighborhood is master-planned for a high-density, urban mixed-use center that includes office, retail, and residential development, all within walking distance of Metro. Easy access via Metro, Amtrak, I-495, and Reagan National Airport have made Carlyle a fast-growing live-work destination.

Established in 1977, Trammell Crow Residential is the nation's premier multi-family real estate firm. Its primary business is value creation through the acquisition, development, construction, and management of multi-family rental housing. The company operates in over 50 of the nation's strongest apartment markets, and bases activity on superior knowledge of local market needs and trends. The goals of the company are to develop, acquire and manage properties of the highest caliber that meet consumer demand, enhance the communities in which they reside, as well as to provide superior yields for investors, clients, and partners. Trammell Crow Residential has developed over 200,000 apartment units in most major markets across the United States.

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LESLIE BRAUNSTEIN
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