(Read more on the multifamily market.)
FAIRFAX, VA-Three real estate firms are investing in thedevelopment of a 414-unit luxury multifamily project in theBailey's Crossroads submarket of Fairfax. Behringer Harvard,Brookfield Real Estate Opportunity Fund and Fairfield Residentialare all kicking in differing amounts of funding or equity to buildwhat an industry source says will be a $100-million-plusproject.
The development, which will be called Fairfield at Bailey'sCrossroads, will consist of three wood-framed buildings with threeto four stories each and one seven-story steel-framed building.There will be 17 different floor plans. Amenities at Fairfield atBailey's Crossroads will include a club room, fitness center withspinning room, computer lab, business center, pub and mediaroom.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
