Mosaic is booming in what continues to be a national hotbed...As part of a vibrant, up-and-coming Merrifield area, Modera Mosaic creates exciting, sustainable value for our residents, our portfolio and our investors.
Merrifield, Va. (PRWEB) July 23, 2015
Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the start of leasing at Modera Mosaic, its newest apartment community in the Merrifield section of Fairfax County.
The mixed-use community, featuring 251 apartment homes, is a key addition to Mosaic, a 31-acre urban development district featuring 2 million square feet of retail, restaurant, office, hotel and residential space. Located near the intersection of Gallows Road and Route 29, Mosaic, an EDENS development, offers Modera Mosaic residents a transit-friendly and walkable lifestyle in one of the nation’s most affluent, highly educated counties.
“Mosaic is booming in what continues to be a national hotbed, and we are thrilled to be a part of it with the addition of our new community,” said Peter Melmed, vice president for Mill Creek Residential. “As part of a vibrant, up-and-coming Merrifield area, Modera Mosaic creates exciting, sustainable value for our residents, our portfolio and our investors.”
Modera Mosaic, which is hosting a grand opening celebration today from 5 p.m. to 7 p.m., is situated within minutes of the Capital Beltway, approximately 14 miles from Ronald Reagan Airport and less than 13 miles from downtown Washington, D.C. Residents have easy access to public transportation via the Dunn Loring-Merrifield Metro Station just a half-mile away.
The Mosaic district features an onsite Target, a 148-room boutique hotel, the renowned Angelika Film Center and 73,000 square feet of Class A office space. Fifty-one retailers are currently active with a strong local and small business presence, and several new businesses have been confirmed to open in 2015, including Madewell, City Sports, Bevello, Iron Chef House and Cherry Blow Dry Bar.
Once complete, Mosaic is projected to play host to 12 million pedestrian visitors annually and to create approximately 2,000 new jobs. Townhome values in the district already are experiencing a 20 percent year-over-year increase since 2013 in a development forecasted to add $250 million in tax revenue to Fairfax County over the next three decades.
Modera Mosaic consists of studio, 1- and 2-bedroom apartment homes surrounded by lifestyle-enhancing amenities, such as a clubhouse/cyber café, a TV/theater room and a business and conference center. Additional amenities include a fitness center, a hotel-inspired pool, gas grills for outdoor cooking, private seating areas and a gas fire pit. The Modera Mosaic apartments are part of a five-story community built atop the ground-floor retail district, with an above-grade parking structure for both residents and shoppers.
The community features contemporary architecture with an urban twist, a design consistent with the rest of Mosaic. Residential-grade aluminum windows complement a brick-and-metal exterior, and the hotel-inspired amenities are constructed with an open design. The community is equipped with green building technology, including Energy Star Windows, programmable thermostats, low-flow plumbing fixtures and energy-efficient lighting in common areas. The apartment homes are equipped with plank-style wood flooring, quartz countertops and a full-size washer and dryer.
Including Modera Mosaic, Mill Creek owns and operates 2,230 apartment homes, and has begun construction on more than 2,278 additional apartments, in the Washington, D.C. metropolitan area.
About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 14 offices across the United States. Mill Creek is building its portfolio in many of the nation’s most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. Currently, the company’s portfolio comprises 49 communities representing 14,851 apartment homes that are operating, under construction or in planning. For more information, please visit http://www.MillCreekPlaces.com.
About Mosaic
Located in the heart of Fairfax County, Mosaic is a hand-selected mix of retail, food and entertainment experiences. We bring together the finest local fashion boutiques and restaurants with premier national retailers and the Angelika Film Center to form a community that has been voted “Best of” by Washingtonian magazine, DC Eater, Northern Virginia magazine, and Arrive magazine. For more information about Mosaic, please visit http://www.mosaicdistrict.com.
