- The Washington Times - Monday, December 3, 2001

Regional real estate group Trammell Crow will build more than 690 apartments and an arts center in Reston Town Center.
Alexan Reston Town Center will feature two four-story buildings, each with a basement level and two levels of underground parking. The buildings will be located across Town Center Parkway from the West Market neighborhood.
The first building will have 362 apartments and 2,300 square feet of retail space. Construction is slated to be completed by fall 2003.
The second building will have 336 apartments and 4,000 square feet for the Greater Reston Arts Center. It is scheduled to be completed by fall 2004.
Terrabrook sold Trammel Crow the 8.5-acre parcel where the Alexan complex will be built. Terms were not disclosed.
"Because there is currently a great demand for rental housing, Alexan will complement the town homes and condominiums now available within Reston Town Center," says Thomas D'Alesandro IV, Terrabrook's vice president and eastern manager.
The apartment market in Northern Virginia remains strong, although vacancy rates are up, according to the most recent report by real estate research group Delta Associates.
Delta surveyed 70,207 apartments in Northern Virginia in June and found 1.2 percent or 831 units were vacant. The vacancy rate in June 2000 was .1 percent, Delta said.
The new home of the Greater Reston Arts Center will complete a Fairfax County requirement that Reston Town Center includes space for cultural uses.
The 1987 rezoning of the 455-acre town center site committed Terrabrook to 8,000 square feet for cultural uses. The 4,000-square-foot ice skating rink in the heart of the town center also helps fulfill the requirement.

New headquarters
Atlantic Realty will build a regional headquarters for the Easter Seals organization in Silver Spring.
The four-story building will include offices and a conference room. The building will also house the Harry and Jeannett Weinberg Inter-Generational Care Center, a medical facility.
Washington architects Weihe Design Group will design the building. Construction is slated to begin in spring 2002.

In other news
Developers Greenebaum and Rose tapped Trammell Crow to handle leasing at Union Center Plaza V, a 12-story office building planned near Union Station. The plaza will have 233,000 square feet.
Parvizian Masterpieces, a Persian rug dealer, has leased a 23,612-square-foot warehouse at Gateway Distribution Center, located near Washington Dulles International Airport. Brokerage NAI KLNB arranged the lease.
The International Research and Exchange Board, a group that promotes relations between the United States and Eastern Europe, has leased 17,528 square feet at 2121 K St. NW. Brokerage Grubb & Ellis arranged the lease.
Chris Baker can be reached at 202/636-3139 or cbaker@washingtontimes.com.

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