(To read more on the multifamily market, click here.)

ALEXANDRIA, VA-More condos are on the way to address Northern Virginia’s appetite for the multifamily properties now that the 368-unit Midtown Alexandria Station has topped out. KSI Services Inc. is developing the 16-story property, with Bovis Lend Lease on board providing general contracting services. The project will cost approximately $106 million to complete.

Located across from the Huntington Metro Station on a 3.5-acre parcel at 2451 Midtown Ave., Midtown Alexandria sits less than two miles from Reagan Washington National Airport and about six miles from Downtown Washington, DC. Designed by the architectural firm of Dorsky, Hodgson & Partners, the 600,000-sf structure also features six floors of above-grade parking.

The condo complex is part of KSI’s strategy of decreasing traffic in the Washington, DC region by creating several residential and mixed-use communities near transportation outlets in the Northern Virginia and Suburban Maryland areas. Midtown Alexandria is on schedule to welcome its first residents in the summer of 2007.

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