LCOR Closes On $100M Construction Loan For The Altaire
LCOR has closed on a $100.3M construction loan from Wells Fargo for a luxury rental project in Pentagon City.
The company plans to begin construction this month on The Altaire, a transit-oriented development scheduled to deliver in Q2 2018. Plans for the 1.77-acre property call for 450 luxury units in two towers, 150 in the first tower and 300 in the second.
The buildings will feature floor-to-ceiling glass façades and rooftop terraces with outstanding views of the District. Amenities available to residents will include an outdoor pool area with fire pits, a landscaped courtyard, a club room, a fitness center and a sky lounge.
The Altaire is slated for LEED Gold certification. Balfour Beatty is GC for the project, with SK&I on board as architect and Akseizer Design Group tasked with interior design.
LCOR's development is part of a critical mass of residential development in Pentagon City and Crystal City, including Vornado's RiverHouse addition and 699-unit, Whole Foods anchored apartment project, both just a few blocks from The Altaire.
