Middleburg Communities, a Vienna, Virginia-based real estate investment, development, construction and management firm, recently broke ground on Mosby Bridge Street, a 290-unit apartment development located in a certified Opportunity Zone in Huntsville. Construction on the community is expected to be completed April 2022 with leasing starting in May 2021.
Mosby Bridge Street will include one, two and three-bedroom luxury apartments in four, four-story buildings.
The development is in walking distance of Bridge Street Town Centre — the 550,000-square-foot lifestyle center in Cummings Research Park. The Towne Center includes 26 restaurants and cafes, a cinema, hotels and retailers.
It is also strategically close to the jobs of the 3,800-acre Research Park, home to nearly 300 companies in total and more than 30,000 employees and students.
“Mosby Bridge Street is another excellent example of utilizing our extensive research capabilities to identify prime locations surrounded by significant population and employment growth,” said Chris Finlay, managing partner of Middleburg Communities.
Included on the job asset side of that research, notes Finlay, were the 36,000 jobs down the road at Redstone Army Arsenal, which includes multiple US Army command stations, NASA’s Marshall Space Flight Center and the FBI’s new $1 billion HQ2 campus focused on cybersecurity.
“Middleburg is very excited to start this transformative development in what has become the fastest growing tech city in the US and within Cummings Research Park, the second largest research park in the country,” said Middleburg Communities Vice President of Development Alexi Papapieris. “Mosby Bridge Street is our first investment in the Huntsville area and this property exceeded our most exacting standards, demonstrating strong job and population growth, a highly educated STEM workforce, new major employment hubs underway and immediate access to amenities, recreation and transportation corridors.”
Middleburg Communities is a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed more than 19,000 apartment units, executing approximately $2.5 billion in transactions.
