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New Development

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Crowne Plaza Redevelopment
901 North Fairfax Street

In August 2017, the Washington Business Journal reported that Carr Properties, the dominant Washington, D.C.-based real estate development company, having recently finished construction of the new Hotel Indigo Old Town Alexandria at the foot of Duke Street in early May 2017, was planning to redevelop the Crowne Plaza Old Town Alexandria located at 901 North Fairfax Street on the east side of Montgomery Park a block away from Watergate of Alexandria. 

The hotel that was built in 1973 and has 253 guest rooms and 245,000 square feet of space.  In December 2016, the Washington Business Journal reported that Carr's lenders were threatening to foreclose on the property due to a default on a $42.5 million loan that was originated by G.E. Financial and later transferred to a mortgage-backed securities portfolio.  The city's 2017 assessed value of the property is $25.4 million.

Apparently, as was done with The Oronoco Waterfront Residences a few years ago, Carr proposes to strip the existing building down to the superstructure, reskin the building, convert the interior space from offices to residential units, and build luxury townhomes over the existing parking garage.  MetroStage, which is currently based at the Craddock/Smoot Lumber Site that is also undergoing major renovation, is planning to move into the redeveloped Crowne Plaza's ground floor and first sub-level -- the entire frontage along North Fairfax Street will be framed by floor-to-ceiling glass windows, highlighting the performance venue's lobby, box office and planned street-level arts space. Sadly, The Perfect Pita take-away eatery at the corner of First and North Fairfax Streets will go-away for good.

The building's owner does not need to go through the city's development review process for this project.  For conversion projects of this type, the only government approvals required are building permits.


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