Carr Properties Plans Old Town Residential Project
The firm acquired the two-acre Montgomery Center site to build a 373-unit apartment complex in Alexandria.
Updated on Oct. 27, 2026 in Commercial
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Carr Properties has acquired the Montgomery Center site at 300 Montgomery Street for a new residential development. The project will replace existing commercial space with a 373-unit apartment community.
Why it matters
The developer is moving forward with the site conversion to capitalize on strong long-term residential demand in the Old Town area. This shift represents a transition from commercial use to housing in a high-density neighborhood.
The redevelopment project spans a two-acre parcel located at 300 Montgomery Street. The site will feature a rooftop pool and an amenity lounge as part of its residential offerings.
The players
Carr Properties
This real estate investment and development firm focuses on creating high-quality office and residential spaces.
MC Property, LLC
This entity acted as the seller in the transaction involving the Montgomery Center site.
CarrAmerica
This real estate company facilitated the transfer of the property to its affiliate, Carr Properties.
The details
The property formerly housed several commercial tenants, including the Art League's Madison Annex, Crooked Beat Records, A La Lucia, and Extra Perks. CarrAmerica transferred ownership of the site to Carr Properties as part of the acquisition process.
Timeline
Construction is expected to begin in spring 2028.
Construction is expected to be completed in spring 2030.
Culture Shift
The project follows the pattern set by the ongoing residential densification of Alexandria's Old Town North. This trend signals a broader shift away from small-scale commercial use toward larger, amenitized housing developments in historic city centers.
Residents should anticipate the closure of existing commercial businesses at 300 Montgomery Street to make way for the new construction. The influx of 373 apartment units will significantly increase the residential density of the immediate Old Town North neighborhood.
The takeaway
The transformation of the Montgomery Center site reflects a growing preference for high-density living options in established historic districts. Prospective residents can monitor upcoming permit filings for specific details on leasing timelines as the 2028 start date approaches.
What happens next
Construction is slated to begin in spring 2028, with the development expected to reach completion by spring 2030.
Further reading
For more information on similar developments, visit the Alexandria Commercial section.
Source note: This article includes information reported by ALXnow | Alexandria, Va. breaking news, local events and community happenings.
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