HOUSTON (Realty News Report) – Houston-based multifamily developer Hanover Co. is planning a 412-unit apartment community with ground-floor retail in the Tysons Corner submarket of Northern Virginia.
JLL represented Hanover Co. in securing a joint-venture equity partnership with PCCP, LLC.
Situated in the Washington, DC metropolitan area, the project will be built on a 5.86-acre parcel at 1500 Westbranch Drive.
The six-story development will include 343 market-rate units and 69 affordable units, averaging 889 square feet per unit. The property will also provide nearly 3,000 square feet of ground-floor retail space and 596 parking spaces.
Construction is scheduled for completion in late 2021.
The JLL Capital Markets team representing the sponsor was led by Managing Directors Cortney Cole, Brian Crivella and Walter Coker.
Amenity features will include a fitness center and business/conference rooms.
Sept. 6, 2019 Realty News Report Copyright 2019
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