Courtesy Community Three Development
A rendering of the future reinvention of 1033, 1055 and 1111 N. Fairfax St.
Three empty office buildings in Old Town North moved a step closer to becoming luxury residential and mixed-use buildings.
On Saturday, City Council members voted to give final approval to the necessary zoning changes for move forward with the project, named Tide Lock after the nearby park.
The three brick office buildings, at 1033, 1055 and 1111 N. Fairfax St., were built in the 1980s and were the American Physical Therapy Association headquarters until APTA moved to Potomac Yards. The buildings will not be torn down. Instead, the original outline of the buildings will be converted and expanded into 240,000 square feet of residential, retail and arts space.
The project will receive density bonuses for including both affordable housing and an arts or cultural anchor on the ground floor.
The development is the first in Alexandria for Community Three Development. The company has been involved in high-profile projects in the District, including the Grimke School, and in Bethesda, Maryland.
Community Three Development’s website says that Tide Lock “will become an iconic luxury condominium and multifamily lifestyle community. Situated directly along the Potomac River, with full panoramic views of the Washington, DC skyline, three existing commercial buildings will be repositioned into 223 residential units atop a 217-space parking garage.”
The project is estimated at $115 million.
