New apartment complex breaks ground in Alexandria
Ground was broken on Thursday, August 28 for the construction of "The Legacy of Alexandria," a new 116-unit apartment complex in Alexandria.
Construction is scheduled to begin on The Legacy in the coming weeks and will feature multi-unit housing consisting of upscale one, two, and three bedroom units - the entire project will be completed in two phases with phase one scheduled for completion in 2009 and phase two scheduled for completion in 2010.
The project manager for The Legacy project is INH Properties with construction management by Mick Construction, engineering by Landteam, Inc, and architecture work by Hagemeister and Mack Architects.
To assist with this project, the developer worked with the Alexandria Area Economic Development Commission to secure tax increment financing (TIF) benefits from the City of Alexandria.
To receive these benefits, 20 percent of the housing units created in this housing project will be for households whose income is 50 percent or less than the area's median gross income. TIF benefits will be used to help offset infrastructure and development costs of this project.
The Legacy housing project will be constructed on a 7.3 acre parcel located at 701 34th Avenue East. Total estimated project costs are estimated at $10 million and will include 165,945 square feet.