FAIRFAX, VA. — Locally based Insight Property Group has begun construction of a 452-unit apartment community on the site of the Hunters Branch office complex in Fairfax, 20 miles west of Washington, D.C. The Hunters Branch site is home to two vacant office towers totaling 400,000 square feet. Insight acquired the site for $28.9 million in a real estate owned (REO) transaction in November 2024.
In March of this year, Insight sold a portion of the Hunters Branch property to Toll Brothers for $17 million. Toll Brothers will develop 76 for-sale townhomes on the parcel. Insight will develop the remainder of the site with the 452-unit multifamily property while preserving 656 parking spaces in an existing garage.
The original office property was not zoned at the time of acquisition and included several commercial office tenants. The office tenants were relocated, while Insight’s team designed and worked to rezone a new community that includes multifamily homes and townhouses, retail and community spaces that will tie into an existing park network. Hunters Branch is Insight’s third office-to-residential conversion project in the Washington, D.C., metro area. The $174.6 million apartment development is supported by a $107.7 million construction loan provided by CIBC Bank USA and Citizens Bank. Berkadia arranged the loan and secured equity for the project. A name of the apartment property and a construction timeline were not disclosed.