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PENTAGON CITY, VA-Kettler is beginning vertical construction on its $135 million Millennium at Metropolitan Park project–a 300-unit, high-rise luxury building that is part of a multi-phase project in which the company plans to erect eight apartment buildings encompassing 3,200 units.

This will be the second building in the Metropolitan Park project, which was master-planned by architect, Robert A.M. Stern. The first, Gramercy at Metropolitan Park, delivered this January and is now 68% leased, Jamie Gorski, chief marketing officer for Kettler, tells GlobeSt.com. The third building slated for development is now in the design phase, she says.

This submarket has a lot of similar product to offer, she acknowledges. “But each building has, or will have, its own character, finish level and amenities.” For instance, Gorski says that the Millennium at Metropolitan Park will be entirely no smoking. The new building will be situated on nearly 2.6 acres. Besides the high-end units it will also feature 7,800 sf of retail and 368 underground parking spaces. The 19-story building will deliver in late 2009.

Wachovia is the lead bank, providing construction financing and ING Clarion Partners is providing equity. BE&K is the general contractor. HOK designed the exteriors, which has a more modern façade than the Gramercy building. Dorsky, Hodgeson, Parrish, Yue is Architect of Record and Forrest Perkins is providing the interior design.

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