USAA Real Estate, Lowe Transform Alexandria Office Complex into Multifamily
USAA Real Estate and Lowe have completed Park + Ford, an adaptive-reuse of the former three-building Park Center office complex in Alexandria, VA into a 435-unit apartment community with 115,000 square feet of office space.
The partners acquired the original 568,000-square-foot Park Center complex —two 14-story towers and a four-story building constructed atop a 1,400-space parking garage on Ford Avenue — in January of 2018. Lowe developed a plan to capitalize on traditional office attributes of the towers, such as 10-foot ceilings and large floorplates, to transform the buildings into apartments.
“Park + Ford offers apartment residences larger than those which are typically developed as new construction,” said Mark Rivers, executive VP, Lowe. “At the time we purchased the property, prior to the pandemic, we identified growing interest among young professionals, many beginning to couple-up and start families, for an apartment community with more room for working and family along with style and convenience.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.