A major office-to-residential conversion has been completed in Old Town Alexandria, Virginia. American Real Estate Partners (AREP) and Harrison Street Asset Management (HSAM) announced the opening of CityHouse Old Town (CHOT) on 6 April 2026. The development has turned a 1980s office building into a luxury rental community.

The new site contains 199 boutique residences and roughly 17,000 square feet of retail space. It is the first project of its type to be finished in the Old Town neighbourhood. The joint venture aimed to reposition an older office asset to meet the high demand for housing in the Washington D.C. region.

Strategic planning for the site began well before construction started in February 2024. The firms worked with the City of Alexandria’s Planning & Zoning team and the Board of Architectural Review. This cooperation ensured the project met all local requirements. The building is located near the King Street Metro and the local waterfront.

Brian Katz, Co-Founder & President of American Real Estate Partners, said: “1101 King Street is a rare site in Old Town Alexandria. From the beginning we had a clear plan to create long-term value for our investors, our residents and our community. As the office market recalibrates, conversion isn’t right for every building. The projects that succeed require the right cost basis and capital structure, disciplined execution, a strong operating platform, and close coordination with the city. CityHouse reflects that approach.”

The conversion process was complex. It involved structural changes and the consolidation of seven office condominiums. The project also had to respect the historic nature of the district. Michael Borchetta, Senior Managing Director at HSAM, noted the importance of this cooperation.

“CityHouse Old Town reflects the power of partnership between private capital, experienced operators, and local stakeholders,” said Michael Borchetta, Senior Managing Director & Co-Head of the North America Transactions Group at Harrison Street Asset Management. “Partnering with AREP, we were able to deliver much needed housing in Old Town Alexandria while integrating the historic fabric of the neighborhood through adaptive reuse.”

AREP worked with several partners to finish the job. These included Bozzuto Management Company for property management and Hoar Construction as the general contractor. Cooper Carry served as the architect while RD Jones + Associates handled the interior design.