Mixed-Use Development at Old Giant Store Site Goes Before Planning Commission March 1

ALEXANDRIA, VA -- EDENS, one of the leading real estate developers in the country, recently announced a residential partnership with Gables Residential on the development of 530 First Street in Alexandria’s North Old Town neighborhood

The location for the apartment building is where the now-closed Giant store is located and where an ABC store continues to operate in North Old Town.

Construction on 530 First Street in North Old Town, with the building entrance to the apartments on Montgomery Street, is expected to start later this year with completion in 2018, according to a report by WTOP. Several townhouse-style dwelling units and two public open spaces would be located at the ground level as well, according to Planning Commission documents.

In addition to the proposed 232 apartments, a layout of the development shows a large space, 24,000 square feet, for an organic grocer or home furnishings store on the main level as an anchor store. A two-level underground parking garage would handle 481 spaces.

The proposal for the mixed-use development goes before the City Planning Commission March 1. At neighborhood meetings, the most frequent concerns have included the overall height and density at the site, the potential for increased traffic around the site particularly on First Street, and the location of the loading dock entrance on First Street, according to Planning documents.

The Planning Commission staff has recommended approval of the planned development, with certain conditions being met, including:

• Contribution for the installation of fiber-optic conduit to connect existing traffic signal at First and North Washington Streets to improve traffic flow ($50,000);
• Contribution for the installation of a Capital Bikeshare station ($50,000);
• Provision of on-site public art ($75,000 value); while still in early research phase, the applicant intends to provide a significant art piece, potentially relating to the history of the site and the neighborhood and the theme of water, created by a local artist and located at the primary project entrance on Montgomery Street.
• Voluntary open space contribution ($75,000) and planting of new street trees on North Washington Street ($7,000 value);
• Nine on-site affordable housing units (valued at approximately $2.4 million.) This contribution would result in nine units (seven studios and two one bedrooms) that would be affordable to residents earning at or below 60 percent of the Area Median Income ($45,864 and $65,520 for a household of one and four, respectively) for a period of 40 years.

The developers are planning on featuring several “amenity spaces” including:

• a landscaped central courtyard area on the second level of the building that would feature a swimming pool, passive green space, and sitting areas
• additional terraces on the second floor and the roof of the building
• several second-level units facing North Saint Asaph Street would feature individual, private terraces as well

The LEED-certified, mixed-use project will offer 232 units of distinct apartment homes above 50,000 square feet of neighborhood-serving retail.

“EDENS is excited at the opportunity to contribute to Old Town Alexandria’s rich history,” Steve Boyle, managing director of EDENS, said. “We believe the strong caliber of Gables Residential’s neighborhoods coupled with EDENS’ community-focused retail development approach will respect the fabric of what makes Old Town so special, while providing the Old Town North neighborhood a place of its own.”

EDENS owns and operates a number of other retail developments in the area, including Mosaic and Arlington Ridge in Northern Virginia, and Union Market in the District.