EDENS Announces Residential Partner For Alexandria's 530 First Street

Partnership strengthens redevelopment plans and offers a unique mix of uses

Feb 02, 2016, 09:02 ET from EDENS

ALEXANDRIA, Va., Feb. 2, 2016 /PRNewswire/ -- EDENS, one of the leading real estate developers in the country, announces a residential partnership with Gables Residential on the development of 530 First Street in Alexandria, Va.

530 First Street will be the next major step in the evolution of Old Town North. EDENS will spearhead a new retail heart to the neighborhood. The LEED-certified, mixed-use project will offer 232 units of distinct apartment homes above 50,000 square feet of neighborhood-serving retail.

"EDENS is excited at the opportunity to contribute to Old Town Alexandria's rich history," Steve Boyle, Managing Director of EDENS, said. "We believe the strong caliber of Gables Residential's neighborhoods coupled with EDENS' community-focused retail development approach will respect the fabric of what makes Old Town so special, while providing the Old Town North neighborhood a place of its own."

EDENS owns and operates a number of other successful retail developments in the area, including Mosaic and Arlington Ridge in Northern Virginia, and Union Market in the District.

About Gables Residential
Gables Residential is an award-winning, vertically integrated, real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing and management of multifamily and mixed-use communities. Gables Residential owns, develops and manages communities in high-growth U.S. markets such as Atlanta, Austin, Boston, Dallas, Denver, Houston, South Florida, Southern California and metropolitan Washington, D.C. Gables also provides third party management services in the New York, New Jersey, Baltimore, Frederick, Tampa, Phoenix, Seattle, San Antonio, Charlotte, Central and North Florida markets. 

Gables manages approximately 30,500 apartment homes and 515,000 square feet of retail space and has received national recognition for excellence in development, management, sales, marketing, training, benefits and corporate accommodations. These achievements reflect the impact of our experienced and dedicated team members, our superior knowledge of the markets served, and expertise in development and management.

About EDENS:
EDENS develops, owns and operates community shopping centers in primary markets across the country. Focusing on innovative development and redevelopment together with key acquisitions in urban areas, the company has built an institutional-quality portfolio of more than 120 retail centers. EDENS has regional headquarters in Boston, Washington, D.C., Atlanta, Miami, Houston and Columbia, SC. For additional information about the company and its retail real estate portfolio, please visit www.edens.com.