EDENS Breaks Ground On Retail & Residential Project In Old Town North, Alexandria

ALEXANDRIA, Va., March 8, 2017 /PRNewswire/ -- On Wednesday, March 8 2017, EDENS, one of the nation's leading retail real estate developers, broke ground on a new residential and retail project at 530 First Street in Alexandria, Va. EDENS CEO Jodie W. McLean was joined by Alexandria's Mayor Allison Silberberg, City Manager Mark Jinks and members of the city government to mark the occasion. Project partners Gables Residential, who will be developing the apartment homes, were onsite, including Gables CEO Sue Ansel.

The groundbreaking launched a redevelopment with authenticity and respect for the neighborhood's storied history. It will create a dynamic mix of sophisticated residences, retail and dining options for the Alexandria community.

"We are very proud to launch this project today in Alexandria," EDENS CEO Jodie W. McLean said. "When community is strong, so is its economy. Our social capital and culture are equally robust. We are thrilled to begin to transform this space into a place that supports and thrives alongside its neighborhood."

Construction is set to begin this spring on the project, which will include roughly 50,000 square feet of community-centered space and 232 residences by Gables Residential. The LEED-certified center will also include creation of an enhanced streetscape, the addition of a Capital Bikeshare station and provision of onsite public art.

Sue Ansel, CEO for Gables Residential, shared, "We are looking forward to our partnership with EDENS and entering the Alexandria market with such a thoughtful community-centric project. Gables Old Town North will be a high-end mixed-use development that will be a great addition to Old Town Alexandria."

In support of the strong community in Alexandria, EDENS and Gables Residential combined Wednesday to make donations to two local charitable organizations: the Alexandria Seaport Foundation and the Scholarship Fund of Alexandria. EDENS and Gables are proud to support those making important impacts in the Alexandria neighborhood.

530 First Street is slated to open in 2019.

About EDENS

EDENS develops, owns and operates community shopping centers in primary markets across the country.  The company has built an institutional-quality portfolio of more than 120 retail centers. EDENS has regional headquarters in Boston, Washington, DC, Atlanta, Miami, Houston and Columbia, SC. For additional information about the company and its retail real estate portfolio, please visit www.edens.com.

About Gables

Gables Residential is an award-winning, vertically integrated, real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing and management of multifamily and mixed-use communities. Gables Residential owns, develops and manages communities in high-growth U.S. markets such as Atlanta, Austin, Boston, Dallas, Denver, Houston, South Florida, Southern California and metropolitan Washington, D.C. Gables also provides third party management services in the New York, Baltimore, Frederick, Tampa, Phoenix, Seattle, Charlotte, Central and North Florida markets.

Gables manages over 31,000 apartment homes and approximately 550,000 square feet of retail space and has received national recognition for excellence in development, construction, management, sales, marketing, learning and development, benefits and corporate accommodations. These achievements reflect the impact of our experienced and dedicated team members, our superior knowledge of the markets served, and our expertise in development and management.

SOURCE EDENS