Purchased by the University of Mary Washington Foundation, the 23-acre former Fredericksburg Park & Shop retail center has completed the first of three phases for the redevelopment and transformation into an urban mixed-use complex. The Project, with frontage on US Route 1, is now connected to the main campus by an iconic pedestrian bridge spanning over the six-lane highway.
Concord Eastridge was selected as the master developer for the project by UMW Foundation in 2007 to orchestrate the phased re-development and is directing the master planning and redevelopment of this property. Phase I,, built on the northern 7-acres of the center, included the development of 624 beds of student housing, as well as 36,000 SF of office space, 30,000 SF of new retail and structured parking for 540 vehicles. Subsequent phases of re-development will likely include hotel, senior housing, and additional retail.
Construction of the Phase I development commenced February 2009. The new student housing was completed and occupied in the Fall of 2010. Concord Eastridge, as asset manager for the entire project, has directed the lease of the new and older components of Eagle Village. The second phase of the re-development was a new 93-key Hyatt Place Hotel which accepted its first guests in January 2014.
- Location: Univ. Of Mary Washington
- Role: Master Developer & Asset Manager
- Program: 624 bed student housing,
covered pedestrian bridge,
36,000 SF office,
30,000 SF retail,
540 car parking deck
- Program Cost: $76 M
- Development Team: RRMM Architects,
Bank of America,