With the fully leased 165-unit Liberty Crest apartments, Madison, Wisconsin-based Alexander Co. and McLean’s Elm Street Development proved that a former maximum security prison can be successfully converted to multifamily without scaring away prospective tenants.
But will people want to work there? That question will be answered soon enough.
The joint venture is getting underway with party two of the $190 million Liberty at Lorton, the redevelopment of the Fairfax County-owned, former Lorton prison into a village of apartments, townhouses, single-family homes, office and retail.
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This article was originally published by Katie Arcieri in the Washington Business Journal.