The NRP Group in partnership with leading real estate investor Angelo Gordon, has broken ground on Lake Pointe, a market-rate apartment community in Woodbridge, Virginia. The project involves five buildings totalling 355 units on the 15-acre property in four- and five-story configurations.
In Prince William County, Lake Pointe is just 20 miles south of Washington, D.C. The property is close to the I-95 Prince William County Parkway exit, which receives close to 160,000 people each day. Further, they will also be close to Potomac Mills, which offers a wide variety of dining and shopping opportunities. Within walking distance is a brand-new, cutting-edge Kaiser Permanente medical centre hub. It provides a variety of health services, including same-day appointments. Additionally, a commuter parking lot with 2,300 spaces that have undergone comparable renovations is right next to the site. With this development, NRP and Angelo Gordon have collaborated twice. Furthermore, Santander Bank has funded the project with a construction loan.
NRP Group Lake Pointe project completion date
The first units in the development are anticipated to be delivered in 2025. With larger units, floorplans with dens, work-from-home facilities, and on-site private telecommuting places. Furthermore, Lake Pointe’s amenities and floorplans will satisfy post-pandemic tendencies. A modern fitness centre, a sumptuous pool, parking garages, a dog park, and a spa are among the additional features.
Josh Wooldridge, senior vice president of development for The NRP Group, expressed his excitement about starting construction on Lake Pointe and collaborating with Angelo Gordon and Santander Bank. “This project demonstrates our dedication to providing best-in-class multifamily housing that satisfies tenants’ changing demands. Additionally, for people looking for accessible, comfortable, and fashionable living options in the greater Washington, D.C. area, Lake Pointe is poised to become a sought-after residence thanks to its excellent location and contemporary facilities.”