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Author: Don Obrien

Report: Massive Oakville Triangle project secures financing | ALXnow


https://www.alxnow.com/

The Oakville Triangle redevelopment is progressing steadily, as developer Stonebridge has reportedly secured the $300 million in financing necessary for its construction, according to the Washington Business Journal.

Stonebridge principal Doug Firstenberg did not discuss the terms of the financing on the 13-acre property from Los Angeles-based investment company PCCP, although it means that the timeline for the project is on track to be unveiled in the fall of 2023.

The massive Oakville Triangle project is located at the corner of Fannon Street and Richmond Highway — just down Richmond Highway from National Landing and the Virginia Tech’s Innovation Campus, and includes more than 1 million square feet of residential space dedicated to apartments, the 93,000-square-foot Inova HealthPlex and 55,000 square feet of retail.

The project goes before the Planning Commission and City Council this November.



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