July 13, 2015— Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged construction financing and joint venture equity for the development of The Signet, a 123-unit luxury condominium community in downtown McLean, Virginia.
The Signet will be constructed on an existing surface parking lot adjacent to 6862 Elm Street, a 109,000-square-foot office building purchased by the developer in 2009. The transit-oriented property, walkable to the retail and restaurants in downtown McLean, will be approximately two miles from the McLean Metro station and will offer convenient access to all of the Washington, D.C. metropolitan area via Interstate 495, the Dulles Toll Road and George Washington Memorial Parkway. The Signet will encompass 108 market-rate homes averaging 1,844 square feet and 15 workforce condominiums averaging 849 square feet, as well as 5,033 square feet of ground-floor retail and a four-level parking garage. This new community will offer unparalleled amenities, including a landscaped courtyard with water feature, grilling stations, resort-style dining areas, resident lounge and clubroom, fitness center with private saunas and steam rooms, park with play areas, trail with exercise equipment, electric car charging stations and concierge services. Homes will feature nine-foot ceilings, hardwood floors, custom millwork, Thermador appliances, stone kitchen countertops, raised-panel wood cabinetry, fireplaces, upgraded closet shelving and large outdoor terraces and balconies.
The HFF team representing the developer was led by Sue Carras, Walter Coker and Brian Crivella.
According to HFF, this project has been in the planning stages for several years taking into consideration the input of the many constituents of the McLean market. Due for completion in 2018, the Signet will be the first condo-style, single-level living option to deliver in this high-barrier-to-entry market in more than 10 years.
[button href=”https://www.hfflp.com/media-center/press-releases/142999/hff-arranges-capitalization-for-123-unit-luxury-condo-development-in-mclean-virg.aspx” style=”emboss” size=”medium” color=”#000000″ target=”_blank”]Source: HFF[/button]