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Kettler in the News
October 08, 2014
KETTLER to Begin Construction on High Rise Apartment in Crystal City
October 8, 2014
Kettler announced today that it has closed on a construction loan with lender Capital One. The real estate development company will proceed with plans for the development of an 11-story, 198 unit, luxury high rise apartment building located in the Crystal City neighborhood of Arlington, Va.
“The construction financing provided by Capital One paves the way for building our second m.flats luxury apartment building in the Washington, D.C. region,” said Leslie Furst, senior vice president of finance for Kettler. “Capital One has proven itself to be a strong and reliable partner. We anticipate that our relationship with them will continue to grow as we expand in this market.”
Known as m.flats Crystal City, the LEED Silver designed building is located one block from the Crystal City Metro station, and will meet the burgeoning demand for smaller, luxury units catering to single renters, young professionals and couples looking to share an apartment.
Construction on m.flats Crystal City will begin at the end of October 2014 with an anticipated completion date of October 2016. This will be Kettler’s sixth multi-family project in the Crystal City/Pentagon City market. Kettler is currently building The Acadia, a 411-unit high-rise luxury apartment building in Metropolitan Park that is expected to begin preleasing in the spring.
m.flats Crystal City will consist of primarily one bedroom and two bedroom units as well as three-and-a-half levels of underground garage parking. Standard unit finishes at m.flats Crystal City include washed oak flooring, Quartz countertops and stainless steel appliances. Building amenities will include a resident lounge with gaming area, fitness center, street entry bike room, and an all-season landscaped courtyard with fire and water features. The upper two -level clubhouse will include multiple outdoor seating and dining areas, outdoor kitchens with grills, fireplace, as well as a southern-facing sundeck with cabanas overlooking the swimming pool.
“Our m.flats apartments are meeting a growing demand for living spaces within walking distance of work, shops and entertainment,” said Robert C. Kettler, chairman and chief executive officer of Kettler. “The thought process around m.flats recognizes the fact that many young people are forming families later in life. As a result, they not only want to enjoy the vibrancy of city life, but live in an apartment that has many conveniences and amenities.”
KTGY Group Inc., a full-service architectural and planning firm, is the architect on the m.flats project. Bohler Engineering, a civil engineering and consulting services firm, has been retained as the engineer and John Moriarty & Associates is the general contractor.
About Kettler: Founded in 1977 and headquartered in McLean, Va., Kettler develops planned communities, apartments, condominiums, and mixed-use projects. The company has developed more than 15,400 apartments and condominiums, 5 million square feet of commercial space, more than 46,000 homes in 25 master-planned communities and many of the region’s premier mixed-use communities. Kettler Management successfully manages more than 25,000 apartments for Kettler and 3rd party clients from New York to North Carolina and offers a full range of services to corporate and institutional real estate owners. For more information, visit www.kettler.com.