Edens & Avant Breaks Ground on Mosaic
Mixed-use development considered catalyst for revitalization in Merrifield, VA
Jun 22, 2010
WASHINGTON, June 22 /PRNewswire/ -- Edens & Avant announces the groundbreaking of Mosaic, a 31-acre urban mixed-use development in Merrifield, Virginia, at the intersection of Interstate 66 and the Beltway (I-495). The project is part of a long-term revitalization of key areas in Fairfax County, home to the most affluent and educated citizens in the nation.
Momentum has been building for the development since Congressman Gerald E. Connolly championed a revitalization plan over a decade ago. "We knew the area was under-served and ripe for smart growth redevelopment," commented Connolly. "This town center is the key to the future of Merrifield, and the transformative urban revitalization that the community envisioned is now underway."
"As a company, we are energized to be a part of the revitalization of this district in Fairfax County," added Jodie W. McLean, President and Chief Investment Officer of privately-held Edens & Avant, the developer behind the 1.9 million square foot 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 square feet of both national and local retailers, an eight-screen art house cinema, 150 room boutique hotel, 60,000 square feet of Class A office space, and 114 urban town homes.
Mosaic is the urban transformation of a property that has historically been defined by a drive-in theater and then most recently a multiplex cinema and a sprawling parking lot. The first phase of retail will be inclusive of national retailers missing from the community, as well as some of the Washington Area's favorite establishments. Edens & Avant is bringing together a best class of retailers.
According to Ellen Cotter, Chief Operating Officer of US Cinemas of Reading International, Inc., "the educated demographic surrounding Mosaic makes it a perfect location for the quality film programming offered by the Angelika Film Center." Reading International, Inc., the parent company of the Angelika Film Centers, currently operates Angelikas in New York City and in three Texas locations including Dallas, Plano and Houston.
"We want to give the community a distinct place of its own," commented Steve Boyle, Edens & Avant's Managing Director. "We are doing that by engaging multiple partners who share in our vision of creating a unique place where the community can gather; have distinct dining and shopping experiences; and slow down and enjoy a cup of coffee or a glass of wine with a good friend."
Mosaic will be distinguished by its tree-lined pedestrian walkways, accessible public plazas, and several sustainable design features. Edens & Avant is planning a one-acre park among other public amenities as part of the first phase.
The DC developer is breaking new ground in more ways than one. Mosaic is participating in the U.S. Green Building Council's pilot program for LEED Neighborhood Development. The LEED-ND Rating System integrates the principles of smart growth, urbanism and green building into the first national system for neighborhood design.
About Edens & Avant
Edens & Avant develops, owns and operates neighborhood shopping places in primary markets throughout the East Coast, including 36 retail centers in the Washington DC larger metropolitan area. Focusing on retail in major metro areas, the Company has built a portfolio of more than 128 retail centers in 15 states. Edens & Avant has Regional Headquarters in Boston, Washington DC, Atlanta, Miami and Columbia, SC. For additional information about the Company and its retail real estate portfolio, please visit www.edensandavant.com.
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