ALEXANDRIA, VA. — St. Louis-based Twain Financial Partners has plans to redevelop Hotel Heron, an approximately 90,000-square-foot hotel redevelopment in Alexandria. Construction on the $76.5 million adaptive reuse project is set to begin in June and wrap by November 2023. Twain Financial provided $59.2 million in financing through a mixture of sale-leaseback financing and both federal and state historic tax credit equity on behalf of the developers, May Riegler Properties and Potomac Investment Properties.
The Hotel Heron project will restore the original George Mason Hotel building, which was constructed in 1925. The hotel will contain 134 rooms and 30,000 square feet of amenities, meeting space, restaurant space and ground-floor retail. Aparium Hotel Group will manage the hotel and restaurant upon completion.
The property is currently being used as an office building and parking garage.