Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”) has
announced that its newest residential buildings at Loudoun Station
are under roof and on schedule to open in Spring 2020. The Phase II
expansion of BLVD | Loudoun Station will place the project among
the largest apartment communities in Loudoun County, while the
expansion and addition of new apartment and common area features
will position BLVD | Loudoun Station with market leading amenities.
BLVD Gramercy East features studio, one,
one+den, two, and three-bedroom residences, in a five-story
building surrounding two landscaped courtyards. The 260 BLVD
Gramercy East residences will feature upscale culinary inspired
kitchens, SmartHome Technology and secured lobbies.
BLVD Flats features one, one+den, and
two-bedroom residences in a five-story brick industrial style
building inspired by repurposed warehouse buildings common in urban
centers. The 58 residences in BLVD Flats will feature high
ceilings, oversized windows, kitchens with concrete counter tops,
SmartHome Technology and secured lobbies.
Comstock’s renovation of existing amenity spaces
in Phase I of BLVD | Loudoun Station will repurpose the original
leasing and management offices to create a state-of-the-art fitness
facility. Additionally, the outdoor pool area will expand to
include an outdoor fireplace, fire pits, cooking stations, seating
and dining areas, and landscaped gardens. The original pool will be
replaced with a larger pool featuring the market’s only retractable
pool deck that will cover the pool when the pool is closed thereby
allowing the entire outdoor amenity space to be accessible to
residents year-round.
Additional new amenities will include an indoor
basketball gymnasium with viewing lounge, locker rooms and second
fitness center, a formal lounge and bar room, a game room and movie
viewing room, a business center and indoor/outdoor co-working
space, a dining room with demo kitchen, rooftop social spaces, and
multiple casual gathering spaces and reading nooks. The building
will feature a new package delivery center that includes cold
storage for grocery deliveries and automated package retrieval by
residents 24/7/365. The expanded amenities will be available to all
BLVD | Loudoun Station residents.
The first of two secure residential garages,
serving all residents of BLVD Gramercy East, BLVD Flats and BLVD
One in Phase I will also open in Spring 2020. A second secure
residential garage is planned for Phase III that will serve
residents of BLVD Two and BLVD Three in Phase I and planned BLVD
Gramercy West buildings.
The leasing and property management offices will
relocate into the new BLVD Gramercy East upon its opening and will
serve all BLVD | Loudoun Station residents.
Residents of BLVD | Loudoun Station enjoy a
walkable, amenity-laden environment, surrounded by shopping,
entertainment and dining options, and Gramercy Park, a public park
that includes an innovative playground, splash park, expansive lawn
area and stage for community events. Future development at Loudoun
Station will include additional residential, retail, and office
development, including the area’s first planned smart-city,
Gramercy District.
About Loudoun Station
Loudoun Station represents Loudoun County’s
first (and currently its only) Metro-connected development. Loudoun
Station has approximately 700,000 square feet of mixed-use
development completed, including hundreds of apartment residences,
approximately 150,000 square feet of retail, restaurants, and
entertainment venues that includes the 11-screen AMC Loudoun
theatre, 50,000 square feet of Class-A office, and a 1,500+ space
commuter parking garage. Approximately 2 million square feet of
additional development is slated for Loudoun Station. Located
adjacent to Metro’s Ashburn Station on the Silver Line, Loudoun
Station represents Loudoun County’s beginning transformation into a
transit connected community with direct rail connectivity to Dulles
International Airport, Reston, Tysons Corner and downtown
Washington, DC. For more information about Loudoun Station, please
visit www.LoudounStation.com.
About Comstock Holding Companies, Inc.
Comstock Holding Companies, Inc. (“CHCI”) is a
multi-faceted real estate development, asset management and real
estate related services company that, since 1985, has designed,
developed, constructed and managed several thousand residential
units and millions of square feet of residential and mixed-use
projects throughout the Washington, D.C. metropolitan market and in
other key markets in the southeastern United States. In early 2018,
CHCI announced it would wind-down its subsidiary for-sale
homebuilding operation, and focus exclusively on commercial real
estate investment, development, asset management and real estate
related services. In early 2019, CHCI announced it had completed
the transition of its operating platform. Anchoring the transition
of CHCI is a long-term asset management agreement covering two of
the largest transit-oriented, mixed-use developments in the
Washington, D.C. area; Reston Station, a nearly 5 million square
foot transit-oriented, mixed-use development in Reston, VA, and
Loudoun Station, a nearly 2.5 million square foot transit-oriented,
mixed-use development in Ashburn, VA, and additional development
assets. Comstock’s substantial experience in entitling, designing,
developing, and managing a diverse range of properties including
apartments, condominiums, mixed-use (residential and commercial)
properties, large-scale commercial parking garages and
infrastructure projects, has positioned Comstock as a premier
developer and real estate asset manager. CHCI also provides
development supply chain services, including environmental
consulting, design and remediation services, as well as asset
management services, including property management, development
management, real estate brokerage, and capital markets
services.
Comstock Holding Companies, Inc. is publicly
traded on NASDAQ under the symbol CHCI. For more information,
visit www.ComstockCompanies.com
Cautionary Statement Regarding
Forward-Looking Statements
This release may include "forward-looking"
statements that are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by use of words such
as "anticipate," "believe," "estimate," "may," "intend," "expect,"
"will," "should," "seeks" or other similar expressions.
Forward-looking statements are based largely on our expectations
and involve inherent risks and uncertainties, many of which are
beyond our control. Any number of important factors could cause
actual results to differ materially from those in the
forward-looking statements. Additional information concerning
important risk factors and uncertainties can be found under the
heading "Risk Factors" in our latest Annual Report on Form 10-K, as
filed with the Securities and Exchange Commission.
Comstock specifically disclaims any obligation to update or revise
any forward-looking statements, whether as a result of new
information, future developments or otherwise.
Company Contact: Comstock Holding Companies,
Inc. Denise Pattakos 703.230.1146Shanna Wilson
917.674.3096Source: Comstock Holding Companies, Inc.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a3e3e809-ffd7-4ba9-892e-8f858f6c7622
https://www.globenewswire.com/NewsRoom/AttachmentNg/e589fd90-ed0a-4033-bb8b-4482bf2c4f62
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