Carr Properties Acquires 300 Montgomery Street in Old Town Alexandria

Two-acre site across from Margot will be redeveloped into a 373-unit apartment community, expanding Carr’s growing residential presence in Old Town 

Carr Properties (“Carr”), a leading owner, operator, and developer of premium office and residential properties, today announced the acquisition of 300 Montgomery Street, a 2.0-acre commercial site in Old Town Alexandria, from MC Property, LLC. Carr plans to develop a 373-unit apartment community on the property, with construction expected to begin in spring 2028 and completion targeted for spring 2030. 

Located directly across from Margot, Carr’s new 237-unit residential community at 425 Montgomery Street, 300 Montgomery Street represents the company’s continued investment in Old Town, one of the Washington region’s most established and desirable residential markets. Together, the two properties will bring 610 residences to Old Town Alexandria, creating a significant residential presence for Carr in the neighborhood. 

“Old Town is a neighborhood with strong long-term residential demand. Its walkability, energy and distinct sense of place make it a market where we see an opportunity to continue investing,” said Austen Holderness, Executive Vice President and Chief Development Officer at Carr Properties. “Our experience building Margot has given us an opportunity to see firsthand the strength of this market, and 300 Montgomery Street allows us to build on that momentum with another thoughtfully designed residential community in the heart of the neighborhood.” 

The planned community will include a rooftop pool and an amenity lounge with sweeping views of the Potomac River. Additional details on the residences, design, and amenities will be announced as planning progresses. 

The acquisition adds to Carr’s residential development pipeline across the Washington region. In addition to Margot, Carr is developing 2121 Virginia Avenue NW, a 299-unit residential community in Washington, D.C.’s Foggy Bottom neighborhood expected to deliver in the second quarter of 2028, as well as 3033 Wilson, a 315-unit residential project in Arlington’s Clarendon neighborhood expected to deliver in 2028. Carr also recently acquired 4040 N. Fairfax Drive in Ballston, which it plans to redevelop into a 392-unit residential community beginning in summer 2028.