The NRP Group – a vertically integrated, best-in-class developer, builder, and manager of multifamily housing – in partnership with leading real estate investor Angelo Gordon, has broken ground on Lake Pointe, a market-rate apartment community in Woodbridge, Virginia. The 15-acre site will be transformed into five four- and five-story buildings comprising 355 units.
This development marks NRP’s second partnership with Angelo Gordon, and Santander Bank has provided a construction loan for the project.
“We’re incredibly excited to break ground on Lake Pointe and work in partnership with Angelo Gordon and Santander Bank,” said The NRP Group’s Senior Vice President of Development, Josh Wooldridge. “This project represents our commitment to delivering best-in-class multifamily housing that meets the evolving needs of today’s residents. With its prime location and modern amenities, Lake Pointe is poised to become a sought-after residence for those seeking convenient, comfortable, and stylish living options in the greater Washington, D.C. area.”
Lake Pointe is situated only twenty miles south of Washington, D.C. in Prince William County. The site is located just off the Prince William County Parkway exit on I-95, which sees nearly 160,000 visitors daily. Residents will have easy access to the Beltway for daily commutes to major employers in the region as well as a wide range of retail and dining options at the nearby Potomac Mills. A new state-of-the-art Kaiser Permanente medical center hub is located within walking distance and offers a wide array of medical care services, including same-day appointments. The site is also directly adjacent to a commuter parking lot with 2,300 spaces.
Equidistant to both U.S. Army Fort Belvoir and Marine Corps Base Quantico, Lake Pointe offers a short commute for those working at these mission-critical facilities. Additionally, the site is within walking distance of a daycare center and adjacent to several national retail establishments, including Target, DICK’s Sporting Goods, Best Buy, Starbucks, and Panera Bread.
The amenities and floorplans of Lake Pointe were designed to meet the demands of post-pandemic trends, including larger units, floorplans with dens, work-from-home facilities, and on-site private telecommuting locations. Other amenities include a state-of-the-art fitness center, a luxurious swimming pool, parking garages, and a dog park and spa.
The development’s first units are expected to be delivered in 2025.