Crow Residential (TCR) was selected by the Washington Metropolitan
Transit Authority (Metro) in a competitive bid process to buy the Royal
Street Bus Garage in Old Town Alexandria, VA.
This press release features multimedia. View the full release here:
The Royal Street Bus Garage site in Old Town Alexandria, VA. (Photo: Business Wire)
“We are excited for the opportunity to work with the city, staff, and
community to design and build a project that embraces the vibrancy of
North Old Town,” said Trey Kirby, Vice President of TCR, a national
multi-family real estate developer.
This two-acre property is near the Potomac River and surrounded by
historic charm, green space, and the walkable neighborhoods of North Old
In 2017, the City Council created the Old Town North Small Area Plan, an
initiative to drive economic development. TCR believes it is best
positioned to help fulfill that vision.
“Metro is pleased with the sale to Trammell Crow Residential and is
excited to see that the Royal Street Bus garage site is going to be
revitalized while building the city’s economic base,” said Nina Albert,
Metro Director of Real Estate.
“We are big supporters of the live, work, play principles promoted
within the Small Area Plan and believe the collective efforts of all
involved will create a community that strengthens an already strong
neighborhood,” said Kirby.
From here, TCR will begin the rezoning process by engaging neighborhood
groups and the city.
About the Bus Garage
ABOUT TCR AND CROW HOLDINGS
Trammell Crow Residential (TCR) is a national multi-family real
estate developer with over 40 years’ experience and a local presence in
12 key U.S. markets. Since 2012, TCR has developed, financed and asset
managed more than $5 billion of multi-family communities totaling over
20,000 units, delivering amenity-rich communities in economically
thriving locations nationwide. TCR and Crow Holdings Industrial (CHI)
are the development divisions of Crow Holdings, a real estate investor,
developer and owner with a global multi-asset investment platform and
longstanding industry relationships built on trust, integrity and
partnership. For more information, please visit www.TCR.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180618005085/en/