(Read more on the multifamilymarket.)
ARLINGTON, VA-Woodfield Investments has begun demolition of ashuttered Safeway building on 1.5 acres at 2301 Columbia Pike tomake way for development of the Siena Park mixed-use development.Siena Park will contain 188 rental residential units, 32,000 sf ofground-floor retail and 14,000 sf of office space on the secondlevel.
Margaret Smith Ford, a Woodfield principal, tells GlobeSt.comthe estimated construction cost is $88 million, and it is expectedto reach completion in late 2009. The Safeway closed in March 2005,and Woodfield acquired the property for $12 million in December2006.
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