Press Releases
Four New Condominium Communities Being Developed by KSI Enter Sales Phase
More than 1,200 units to be added to region’s residential market with five projects
June 21, 2005
KSI Services, Inc. (KSI), one of greater Washington, DC’s largest diversified real estate companies, announced today that four of its residential condominium communities currently under development in the region have entered the sales phase. A fifth community sold out during its first sales weekend in June.
These urban communities, which will add more than 1,200 units to the region’s residential real estate market, include: The Residences of Lorton Station, Midtown Alexandria Station, West Village of Shirlington and Midtown Reston Lofts in Virginia; and Midtown Bethesda North in Maryland.
“Over the next five years, KSI expects to develop more than 10,000 condominium homes in the greater Washington area, offering a good mix of economic and geographic choices for home buyers,” said Bob Kettler, chairman of KSI Services. “With a finite land supply and strong consumer demand, our region needs communities that maximize land in urban areas, especially sites that are located close to transit and existing infrastructure.”
Additional information about each community can be found below:
Midtown Reston Lofts: As part of the Midtown Reston Town Center, Midtown Reston Lofts is comprised of 78 new homes, which include one to three bedroom designs. They range in price from the mid-$500,000’s to more than $1.5 million. Fourteen of the homes were sold within the first sales weekend in June.
Midtown Alexandria Station: Directly adjacent to the Huntington Metro Station in Alexandria, these 369 high-rise condominiums are located near Old Town and Washington, DC. Now under construction, the condominium homes in Midtown Alexandria Station are selling in the high $200,000’s.
Midtown Bethesda North: Near the Twinbrook Metro station, Midtown Bethesda North includes 230 high-rise condominium homes, a boutique hotel-style lobby and roof deck. The two-bedroom, two-bath condominiums are selling from the mid $300,000’s to $1 million.
All 32 condominium homes in The Residences of Lorton Station were sold during the first week of June. These two-level homes are located in the award-winning Lorton Station community, master planned by KSI, in Fairfax County, VA. The two-bedroom, two-bath units sold at an average price of $485,000.
Additionally, KSI expects to begin selling homes in its Midtown Largo Station community later in the summer. Located at Largo Town Center, with Metro access nearby, this 240 home community will offer homes ranging from studios to three bedrooms.
Founded in 1977, KSI Services is ranked among the top 15 multifamily housing developers in the nation and the largest land developer in Metropolitan Washington.
Current projects include urban and transit-oriented developments, multifamily housing, commercial and mixed-use developments and golf courses which provide exceptional products and amenities.
Robert C. Kettler, a third-generation builder and developer founded KSI in 1977. Kettler currently serves as chairman, and Richard W. Hausler as president. In all, KSI has developed more than five million square feet of commercial space and more than 50,000 housing units and has won hundreds of awards for housing design, land planning, and urban design.
For more information visit http://www.ksi.com/.
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Editor’s Note: Renderings of KSI’s condominium communities can be obtained by calling Amy Gaag at 410-558-2100 or Sara Nichols at 703-641-9000. A photo of Bob Kettler, chairman of KSI, can be found in KSI’s “image gallery” at the following address:
http://ksi.corporatepressroom.com/