ALEXANDRIA, VA—Bethesda, MD-based FinmarcManagement is partnering with NorthfieldConstruction and Development, LLC to build luxurytownhomes on a .68-acre site in Old Town West. The land parcel,located at the intersection of North Henry and Pendleton streets,has been acquired for $3.85 million and the partners plan to beginconstruction in summer 2015.
Northfield Construction & Development, which specializes inurban infill residential development, will provide generalcontracting services for the townhouse project.
Alexandria in general and Old Town in particular has beenexperiencing an uptick in activity in recent months. Earlier thissummer, Finmarc Management acquired Waterfront Center I and II, a two-buildingportfolio one block from the Alexandria waterfront.
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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.
