Earlier last week Level 2 Development and SJG Properties held a groundbreaking ceremony for The Ace, an eight-story, $98 million mixed-use project in Virginia at 1117-1201 N. Arthur Ashe Blvd. The nearly nine-figure project that’ll transform a large chunk of Arthur Ashe Boulevard is officially underway, and it may soon be joined by another.
The Ace will include 295 apartments above 13,000 square feet of ground-floor commercial space fronting the boulevard. A 296-space podium parking deck is one of the features at the development which spans over three acres.
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Level 2 and SJG – both of which are based in D.C. – have been working on the project since 2021. This is when they bought the land for $12.5 million. The site was formerly home to the Buz and Ned’s restaurant and Car Pool Car Wash buildings, which have been razed.
The team behind The Ace Virginia
The project architect is Poole & Poole Architecture. Fortune-Johnson is the general contractor. Leadership from Level 2, SJG and Cresset were joined at last week’s groundbreaking by 2nd District City Council representative Katherine Jordan.
Just up the street at 1101 N. Arthur Ashe Blvd., another residential project will also move dirt soon after years of inactivity.
Representatives for Outlier Realty Capital told BizSense recently that their planned six-story cohousing building is still in the works.
As part of the cohousing concept, tenants at Outlier’s project would have their own private bedrooms and bathrooms. They will share living and common areas with other residents. When the project went through the entitlement process with the city, Outlier had said rent for rooms would start at around $800.
The Maryland-based firm has been working on bringing cohousing to Arthur Ashe Boulevard since the early days of the pandemic. Outlier bought the 0.3-acre site in 2021 for $1.2 million. The lot has, however, been fenced up and dormant ever since.
A spokesperson for Outlier confirmed this week that they’ll be moving forward on the project soon.
The development would include 29 apartments and 148 bedrooms, plus about 1,500 square feet of ground-floor commercial space.
