RESTON, Va., — Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”) has announced that its newest residential buildings at Loudoun Station are under roof and on schedule to open in Spring 2020. The Phase II expansion of BLVD | Loudoun Station will place the project among the largest apartment communities in Loudoun County, while the expansion and addition of new apartment and common area features will position BLVD | Loudoun Station with market leading amenities.
BLVD Gramercy East features studio, one, one+den, two, and three-bedroom residences, in a five-story building surrounding two landscaped courtyards. The 260 BLVD Gramercy East residences will feature upscale culinary inspired kitchens, SmartHome Technology and secured lobbies.
BLVD Flats features one, one+den, and two-bedroom residences in a five-story brick industrial style building inspired by repurposed warehouse buildings common in urban centers. The 58 residences in BLVD Flats will feature high ceilings, oversized windows, kitchens with concrete counter tops, SmartHome Technology and secured lobbies.
Comstock’s renovation of existing amenity spaces in Phase I of BLVD | Loudoun Station will repurpose the original leasing and management offices to create a state-of-the-art fitness facility. Additionally, the outdoor pool area will expand to include an outdoor fireplace, fire pits, cooking stations, seating and dining areas, and landscaped gardens. The original pool will be replaced with a larger pool featuring the market’s only retractable pool deck that will cover the pool when the pool is closed thereby allowing the entire outdoor amenity space to be accessible to residents year-round.
Additional new amenities will include an indoor basketball gymnasium with viewing lounge, locker rooms and second fitness center, a formal lounge and bar room, a game room and movie viewing room, a business center and indoor/outdoor co-working space, a dining room with demo kitchen, rooftop social spaces, and multiple casual gathering spaces and reading nooks. The building will feature a new package delivery center that includes cold storage for grocery deliveries and automated package retrieval by residents 24/7/365. The expanded amenities will be available to all BLVD | Loudoun Station residents.
The first of two secure residential garages, serving all residents of BLVD Gramercy East, BLVD Flats and BLVD One in Phase I will also open in Spring 2020. A second secure residential garage is planned for Phase III that will serve residents of BLVD Two and BLVD Three in Phase I and planned BLVD Gramercy West buildings.
The leasing and property management offices will relocate into the new BLVD Gramercy East upon its opening and will serve all BLVD | Loudoun Station residents.
Residents of BLVD | Loudoun Station enjoy a walkable, amenity-laden environment, surrounded by shopping, entertainment and dining options, and Gramercy Park, a public park that includes an innovative playground, splash park, expansive lawn area and stage for community events. Future development at Loudoun Station will include additional residential, retail, and office development, including the area’s first planned smart-city, Gramercy District.
About Loudoun Station
Loudoun Station represents Loudoun County’s first (and currently its only) Metro-connected development. Loudoun Station has approximately 700,000 square feet of mixed-use development completed, including hundreds of apartment residences, approximately 150,000 square feet of retail, restaurants, and entertainment venues that includes the 11-screen AMC Loudoun theatre, 50,000 square feet of Class-A office, and a 1,500+ space commuter parking garage. Approximately 2 million square feet of additional development is slated for Loudoun Station. Located adjacent to Metro’s Ashburn Station on the Silver Line, Loudoun Station represents Loudoun County’s beginning transformation into a transit connected community with direct rail connectivity to Dulles International Airport, Reston, Tysons Corner and downtown Washington, DC. For more information about Loudoun Station, please visit www.LoudounStation.com.
About Comstock Holding Companies, Inc.
Comstock Holding Companies, Inc. (“CHCI”) is a multi-faceted real estate development, asset management and real estate related services company that, since 1985, has designed, developed, constructed and managed several thousand residential units and millions of square feet of residential and mixed-use projects throughout the Washington, D.C. metropolitan market and in other key markets in the southeastern United States. In early 2018, CHCI announced it would wind-down its subsidiary for-sale homebuilding operation, and focus exclusively on commercial real estate investment, development, asset management and real estate related services. In early 2019, CHCI announced it had completed the transition of its operating platform. Anchoring the transition of CHCI is a long-term asset management agreement covering two of the largest transit-oriented, mixed-use developments in the Washington, D.C. area; Reston Station, a nearly 5 million square foot transit-oriented, mixed-use development in Reston, VA, and Loudoun Station, a nearly 2.5 million square foot transit-oriented, mixed-use development in Ashburn, VA, and additional development assets. Comstock’s substantial experience in entitling, designing, developing, and managing a diverse range of properties including apartments, condominiums, mixed-use (residential and commercial) properties, large-scale commercial parking garages and infrastructure projects, has positioned Comstock as a premier developer and real estate asset manager. CHCI also provides development supply chain services, including environmental consulting, design and remediation services, as well as asset management services, including property management, development management, real estate brokerage, and capital markets services.
Comstock Holding Companies, Inc. is publicly traded on NASDAQ under the symbol CHCI. For more information, visit www.ComstockCompanies.com
Cautionary Statement Regarding Forward-Looking Statements
This release may include “forward-looking” statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by use of words such as “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” “will,” “should,” “seeks” or other similar expressions. Forward-looking statements are based largely on our expectations and involve inherent risks and uncertainties, many of which are beyond our control. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements. Additional information concerning important risk factors and uncertainties can be found under the heading “Risk Factors” in our latest Annual Report on Form 10-K, as filed with the Securities and Exchange Commission. Comstock specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
Vanessa Winter | Director of Investor Relations, Finjan Holdings
Valter Pinto | KCSA Strategic Communications
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