Edens & Avant breaks ground for 1.9m s/f mixed-use development
Edens & Avant recently broke ground for Mosaic, a 31-acre urban mixed-use development, at the intersection of I-66 and the Beltway (I-495). The project is part of a long-term revitalization of key areas in Fairfax County.
"As a company, we are energized to be a part of the revitalization of this district in Fairfax County," said Jodie McLean, president and chief investment officer of privately-held Edens & Avant, the developer behind the 1.9 million s/f project. "We view our project as the ember of a much larger urban plan that will be the catalyst of economic and community development for a much larger district."
Opening in fall 2012, the first phase of the project is more than two-thirds leased and includes a mix of 400,000 s/f of both national and local retailers, an eight-screen art house cinema, 150-room boutique hotel, 60,000 s/f of Class A office space, and 114 urban town homes.
Edens & Avant is planning a one-acre park among other public amenities as part of the first phase.Mosaic is participating in the U.S. Green Building Council's pilot program for LEED Neighborhood Development.
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.