AREP, Silverpeak to Convert Alexandria Office to Rental

American Real Estate Partners (AREP) and Silverpeak Real Estate Partners have begun construction on CityHouse Old Town, a rental development in Alexandria, VA. This project will convert a former 200,000-square-foot office building into approximately 200 homes, ranging from studios to three-bedroom apartments with a den.   

Located at 1101 King Street, pre-leasing of the development will start in the Summer of 2025, with construction expected to finish later that Fall. Amenities will include a concierge, private club suite, fitness facility, and proximity to the King Street Metro. Cooper Carry, RD Jones, and Hoar Construction are leading the design and construction, with Bozzuto Management set to manage the property upon completion.  

“Office-to-residential conversions are highly coveted, yet challenging to find feasible opportunities that are in the right markets. CityHouse Old Town is the convergence of location, floor plate, and basis, which offers a unique opportunity for our partners,” said AREP co-founder & president Brian Katz. 

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