Renovation work leads Harkins expansion into Virginia
Harkins Builders, based in Marriottsville, Md., is expanding its reach in Virginia, with renovation work playing a significant role. The mid-Atlantic commercial contractor said it has current contracts for $63 million in renovation work at five locations in Virginia, including 1,200 units of multifamily housing and a 110-unit senior living facility.
“We’ve had a significant increase in the volume of our multifamily work in Virginia over the last five years,” John Kim, preconstruction manager at Harkins’ Tysons Corner office, said in a statement. “In 2010 just about 8 percent of our total volume was accounted for by our Virginia housing efforts. Last year the number was about 25 percent, and we’re projected to maintain that level this year.”
Renovation work is taking up a large percentage of that volume. The company projects that more than 70 percent of its Virginia income will come from projects undergoing renovations in 2015.
Harkins is doing a lot of work for longtime client Osprey Property Cos. Much of Osprey’s development work has been on Maryland’s Eastern Shore, and the company also is expanding into Virginia. Harkins completed Osprey’s Riverwoods at Lake Ridge apartment community in Woodbridge late last year, a new 96-unit market rate apartment project, and it recently completed a renovation for Osprey of the 110-unit Victoria Park at Woodbridge apartments for seniors ages 55 and up.
Harkins also is performing preconstruction services for Wicklow Apartments, another Osprey renovation further south in Fredericksburg. Work started on the 96-unit community in July.