ALEXANDRIA, VA - Bell Del Ray, a planned 276 unit luxury apartment community, will be the first multifamily community to be constructed in the Potomac Yard section of Alexandria, the master planned re-development of the historic Richmond, Fredericksburg and Potomac Railroad in Arlington and Alexandria, Virginia.
A joint venture of Woodfield Investments, Arsenal Real Estate Partners, Davis Companies, and Bell Partners closed on the land on November 13. Bell Partners will manage the project upon completion. Woodfield Investments engaged Holiday Fenoglio Fowler to secure equity and debt capitalization for development of the project with debt for the project being secured through Sovereign Bank while equity was provided by Bell Partners Fund IV.
Bell Del Ray is a 276 luxury apartment community with 3,500 square feet of available retail space, 368 above-grade structured parking spaces, a courtyard swimming pool, outdoor fireplaces, a fitness room, a club room, a gaming room and a theater room. Located within the already successful Potomac Yard project, Bell Del Ray will take up part of the southern end of the master development. Residents will enjoy unique living advantages including its location within easy walking distance of both the Braddock Road Metrorail station, as well as the very desirable Del Ray neighborhood, which provides access to an appealing assortment of independently-owned specialty food shops, art galleries, cutting edge restaurants and coffee houses.
“We are extremely excited to be involved in the first multifamily development at Potomac Yards,” said Todd Jacobus, development partner at Woodfield Investments. “The community will be located in an up-and-coming part of Alexandria that features multiple employment and transportation opportunities, and is easily accessible to downtown Washington, DC, Crystal City / Pentagon City and Old Town Alexandria.”
About Woodfield Investments: Woodfield Investments is a premier developer of Class A multifamily communities in the Mid-Atlantic region. The partners at Woodfield Investments share more than 140 years of experience and have developed 38 40 apartment communities representing 12,064 units at a value exceeding $1.4 billion. Woodfield Investments is currently under construction on multiple projects in its markets including Washington, Raleigh, Charlotte, and Charleston representing 2,030 units and a total build out cost of over $305 million. There is a current pipeline of additional projects in various stages of zoning entitlement and design, representing 1,835 units and an estimated cost of $275 million.