CIM Group has announced that it has begun the redevelopment of the 12-story, former Crowne Plaza Hotel at 901 N. Fairfax in Alexandria's Old Town North neighborhood, into a 13-story, 122-unit residential condominium tower dubbed Venue.
In addition to the condos, the project will include an adjacent 41 new townhomes, and a 7,000-square foot performing arts theater, MetroStage, at the base of the tower. CIM and Carr Companies acquired the property earlier this year and are co-developing the project, which is expected to be completed in 2020. The townhomes will feature four bedrooms and two-car garages and rooftop terraces. In-home elevators are an option.
Los Angeles-based CIM has experience owning, developing, repositioning, and operating properties to the adaptive reuse and new construction at 901 N. Fairfax.
The condominiums will feature high-end finishes and floor-to-ceiling glass facades, taking advantage of views from the building’s location on the Potomac River. Views of the River and Montgomery Park can also be enjoyed from the tower's 13th- floor penthouse clubroom and a rooftop deck.
In addition to on-site community gathering and recreation spaces including the fitness center, 901 N. Fairfax is adjacent to the Mount Vernon Trail, providing future residents with walking and biking at their doorstep. Shopping, dining and entertainment options are located a few blocks away on King Street. Other on-site amenities include a bike room and dog wash.
CIM notes that it has been active in the greater Washington, D.C. area for more than 15 years; CIM’s greater Washington, D.C. portfolio has included office, hotel, and residential properties. In Alexandria, CIM currently owns and operates Mason at Van Dorn, a 1,180-unit residential community and Park Place at Van Dorn, a 285-unit residential community.
