Acquisition Closed for 1625 Prince Street Conversion in Old Town Alexandria

Acquisition Closed for 1625 Prince Street Conversion in Old Town Alexandria

The acquisition and construction financing have closed for the redevelopment of 1625 Prince Street in Alexandria, paving the way for an office-to-residential conversion in the city’s Old Town neighborhood. The existing office building, originally constructed in 1990 and located steps from the King St.-Old Town Metro station, will be transformed into a 45-unit luxury multifamily property featuring 31 one-bedroom apartments and 14 two-bedroom units. The transit-oriented redevelopment reflects continued demand for adaptive reuse projects across the Washington, D.C. metro region as developers reposition aging office assets into housing.