JOINT VENTURE DEVELOPS $94 MILLION ALEXAN CARLYLE IN ALEXANDRIA, VA.

ALEXANDRIA, VA. —Trammel Crow Residential and Olayan America Corp.’s New York office are developing Alexan Carlyle in a joint venture for $94 million in Alexandria, Va. The 280-unit, five-story luxury apartment building will be located on a 2.8-acre parcel at 800 John Carlyle St., two blocks from the new 2 million-square-foot U.S. Patent and Trademark Office. The property will feature resort-style amenities including a pool, clubhouse, exercise room, billiards room and business center. Architects Cubellis DCA designed three distinct portions of the building to reflect the classic Federal architecture of the nearby Old Town Alexandria, the art-deco period and an urban lofts look, respectively. The Alexan Carlyle is part of the 77-acre master planned urban mixed-use center. The first units are expected to deliver in the third quarter of 2009.