Trammell Crow Company Unveils Plans for New, Class A Mixed-Use Development in Alexandria, Virginia
765 John Carlyle Will Feature Senior Housing, Medical Office, and Retail Space
August 12, 2021
Trammell Crow Company (TCC), one of the nation’s largest developers and investors in commercial real estate, and its partners have announced plans for a 383,000-square-foot mixed-use development in Alexandria, Va. Located at 765 John Carlyle Street, the project will be a Class A development consisting of a 268,000-square-foot senior living residence and a 115,000-square-foot medical office building. The buildings will be constructed above a common podium offering a mix of retail uses and a conveniently integrated 440-space parking garage. Construction is slated to begin in Q3 2022 and will be completed by Q4 2024.
The 18-story senior living building will include approximately 215 senior living residences that offer independent, assisted, and memory care living options, as well as wide array of amenities. The medical office building will rise 10 stories and include 115,000 gross square feet of space. In addition, 12,000 square feet of ground-floor retail space will be available in the footprint of the medical office building.
Developed in partnership with JM Zell Partners and CBRE Global Investors, the majority investor, TCC will team up with Senior Resource Group, a luxury senior living operator and developer, on the senior living component of the project and with Remedy Medical Properties, a medical office real estate investment firm, on the medical and retail components. Perkins Eastman is designing the senior living residence and SmithGroup is designing the medical office building.
“765 John Carlyle is an exciting and unique project in one of the best submarkets in the Washington D.C. region that we predict will experience significant growth in the coming years because of its existing mix of amenities and accessibility,” said Eric Fischer of TCC’s MidAtlantic office. “We have seen a steady demand for convenient and amenity-based senior housing options at the national level; this need is also replicated at a local level. 765 John Carlyle will offer our residents a vibrant community in which to thrive, innovative health and wellness programs, and engagement with the neighborhood at large.”
Mr. Fischer continued, “In addition to this project meeting a significant demand for senior housing, the medical office portion of 765 John Carlyle will bring much-needed institutional-grade medical space to the community. The building’s state-of-the-art design will offer both health systems and medical groups the much-needed opportunity to efficiently and cost effectively expand outpatient procedures and care-delivery options to our growing community. The integrated parking solution is also a unique attribute to the medical office development, which will allow patients to park securely and conveniently take an elevator to their care provider’s suite. We look forward to working with our many partners and bringing this project to life over the next several years.”
Jeffrey M. Zell, President and CEO of JM Zell Partners, Ltd, said, “We are looking forward to partnering with this outstanding development team to bring these essential components to Carlyle, advancing our long-term commitment to the Carlyle and Alexandria communities.”
765 John Carlyle is located in the affluent Carlyle neighborhood of Alexandria, which is a 20-minute drive to Washington D.C. and a 15-minute drive to the Ronald Reagan Washington National Airport. The neighborhood’s commercial tenancy is anchored by the headquarters for the U.S. Patent and Trademark Office, the National Science Foundation, and the U.S. Federal Courthouse for the Eastern District of Virginia. The location is walkable to King Street, Alexandria’s renowned mile-long retail and entertainment destination, which has a number of popular retailers, restaurants and shops. Both the King Street and Eisenhower Avenue Metro stations are also nearby.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.