{"id":1004050508,"date":"2012-09-23T18:57:33","date_gmt":"2012-09-24T02:57:33","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=69249"},"modified":"2020-04-07T10:14:49","modified_gmt":"2020-04-07T18:14:49","slug":"insight-buys-site-near-huntington-metro-with-plans-for-work-52m-apartment-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/insight-buys-site-near-huntington-metro-with-plans-for-work-52m-apartment-project\/","title":{"rendered":"Insight Buys Site Near Huntington Metro with Plans for Work $52M Apartment Project"},"content":{"rendered":"<p style=\"text-align: justify\">By Adrian Maties, Associate Editor<\/p>\n<p style=\"text-align: justify\">Insight Property Group L.L.C., a <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/rendering_1_2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-69259\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/rendering_1_2.jpg\" alt=\"\" width=\"300\" height=\"119\" \/><\/a>multifamily developer founded by longtime multifamily industry veterans Richard Hausler and Michael Blum in late 2009, on Sept. 11 announced\u00a0the acquisition of 3.4 acres of land in the Alexandria section of Fairfax County, Va. It plans to use the site for a new metro-oriented luxury apartment project.<\/p>\n<p style=\"text-align: justify\">Called Huntington Metro, the project will cost $52 million. Insight plans to start construction in the fourth quarter of 2012. When finished, the project will deliver 240 luxury apartments, as well as ground-floor retail and parking. Residents will enjoy such top-tier amenities as a resident lounge and clubroom with kitchen and billiards, a business center, wireless Internet connectivity, an outdoor pool, a state-of-the-art fitness center and intensely landscaped courtyards and grounds. The building is expected to be finished in mid-2014.<\/p>\n<p style=\"text-align: justify\">The site is located near the intersection of Route 1 and North Kings Highway, just south of the Huntington Metro Station. It took Insight almost two years to obtain a change to the county\u2019s Comprehensive Plan and a rezoning of the property for the project.<\/p>\n<p style=\"text-align: justify\">\u201cWe worked very closely with Supervisor Jeff McKay\u2019s office, county staff and our neighbors to design a high-end residential project,\u201d said Insight Development partner Trent Smith. \u201cThis project will be a visible gateway to Richmond Highway and a source of pride and distinction for the neighborhood.\u201d<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/washaptapt.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-69261\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/washaptapt.jpg\" alt=\"\" width=\"173\" height=\"300\" \/><\/a><\/p>\n<p style=\"text-align: justify\">Insight Property Group has been very active in the D.C. Metro area multifamily market, a place where rents are growing and vacancies are dropping. It will finish its Grayson Flats Apartments in Arlington this fall and will start work on a 310-unit luxury apartment project in early 2013 in Silver Spring. The company will also redevelop the Metro Rosslyn Apartments in Arlington, Va., and has also purchased 572 existing apartments in four other locations in the Washington, D.C., metropolitan area. With the high demand for apartments in the D.C. area, Insight is investing smart and answering a need.<\/p>\n<p style=\"text-align: justify\">Click<strong> <\/strong><a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-occupancy-investment-activity-on-the-rise-in-the-nations-capital\/1004056730.html\" target=\"_blank\" rel=\"nofollow\"><strong>here<\/strong><\/a> for more market data on Washington, DC.<\/p>\n<h6 style=\"text-align: justify\"><\/h6>\n<p>&nbsp;<\/p>\n<h6 style=\"text-align: justify\"><em>Charts courtesy of <strong><a href=\"https:\/\/www.marcusmillichap.com\/\" target=\"_blank\" rel=\"nofollow\">Marcus&amp;Millichap<\/a><\/strong>.<\/em><\/h6>\n<h6 style=\"text-align: justify\"><em>Rendering courtesy of <strong><a href=\"https:\/\/www.insightpropertygroupllc.com\/\" target=\"_blank\" rel=\"nofollow\">Insight Property Group<\/a><\/strong>.<\/em><\/h6>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Adrian Maties, Associate Editor Insight Property Group L.L.C., a multifamily developer founded by longtime multifamily industry veterans Richard Hausler and Michael Blum in late 2009, on Sept. 11 announced&nbsp;the acquisition of 3.4 acres of land in the Alexandria section of Fairfax County, Va. It plans to use the site for a new metro-oriented luxury [&#8230;]<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[1815],"class_list":["post-1004050508","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insight Buys Site Near Huntington Metro with Plans for Work $52M Apartment Project - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/insight-buys-site-near-huntington-metro-with-plans-for-work-52m-apartment-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insight Buys Site Near Huntington Metro with Plans for Work $52M Apartment Project\" \/>\n<meta property=\"og:description\" content=\"By Adrian Maties, Associate Editor Insight Property Group L.L.C., a multifamily developer founded by longtime multifamily industry veterans Richard Hausler and Michael Blum in late 2009, on Sept. 11 announced&nbsp;the acquisition of 3.4 acres of land in the Alexandria section of Fairfax County, Va. 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