Construction is underway on Old Town’s first full-service grocery store, a Harris Teeter. The store and a 175-unit apartment community are going up at 500 Madison St. in Alexandria.
The project, expected to be completed in early 2014, is under development by a partnership of Gaithersburg-based Buchanan Partners and Bethesda-based Pinkard Group. The project team also includes architecture firms Davis Carter Scott and Rust Orling Architecture. Paradigm Construction is serving as general contractor.
The 51,500-square-foot Harris Teeter will be one of the amentities for The Kingsley, the apartment project that will be built over the store.
Principal Real Estate Investors is the majority equity partner in the project. Additional equity is being provided by the developer partnership, which includes Buvermo Investments and the original land owner, Theo Androus. Wells Fargo funded the construction loan.
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