Partners Buys, Zones, Sells Georgetown Multi-Use Parcel

Partners Real Estate has sold a six-acre site at the newly branded The Commons at Rivery mixed-use project in Georgetown for an undisclosed price. The parcel was purchased by Novak Commercial Development. With the goal of introducing a multifamily anchor at The Commons at Rivery, Novak’s plans call for 300 upscale apartment residences.

Upon its projected completion in 2025, the four-story multifamily property will share space with more than 45,000 square feet of premium retail, service and restaurant space, representing a mix of local and national brands. The first phase of retail construction, encompassing 23,000 square feet in a series of one-story buildings, is slated to begin the second quarter of this year.

Partners Development acquired the 14.7-acre Commons at Rivery site – formerly home to McCoy Elementary School – in December 2021 to repurpose the property as a higher density urban hub. In October 2022, Partners was able to secure the entitlements for the project.