Avison Young helps acquire loan to build 119-unit development near Amazon H2Q

The Grayson, a 119-unit development near Amazon H2Q will be completed in fall 2023. (Design rendering courtesy of Avison Young)

ALEXANDRIE, Virginia – Avison Young is a global real estate advisor. Today they announced the establishment of a construction loan on behalf of NOVO properties for the development of Alexandria The Grayson. The Zebra contacted Avison Young, who declined to disclose the loan amount.

The 119-unit development will be located near Route 1 and Amazon H2Q. In addition, since the building will rise in the Old Town, the Braddock Road underground will be within walking distance.

“The Grayson is an excellent development with several outstanding features including its location at the gateway to Alexandria and proximity to HQ2 and the Virginia Tech Innovation Campus, as well as the delivery schedule that matches National’s launch. Landing, ”said Jon Goldstein. , a director in the DC office. “NOVO has a great project and we are delighted to have helped organize the capital stack for development. “

Design rendering courtesy of Avison Young

Goldstein was assisted by his fellow directors Wes Boatwright and Mike Yavinsky.

The seven-story building will feature modern finishes, a robust equipment package, underground parking and shops on the ground floor. The first groundbreaking is scheduled for next month.

The apartments are expected to be in high demand once construction is completed in fall 2023.

EagleBank provided the loan to NOVO Properties, a multi-family owner, developer and property management company headquartered in Capitol Hill.

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