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Clark Realty Breaks Ground on Rosemary Ridge Apartments in Virginia

June 18, 2003

MANASSAS, Va. — Rosemary Ridge Apartments has recently broken ground in Manassas, Va. The 218-unit market-rate community is scheduled to begin leasing in the spring of 2004, and a second phase of 184 units is planned to start construction next fall. Rosemary Ridge will include seven four-story buildings, two three-story buildings and 43 free-standing garages.

Clark Realty Breaks Ground on Rosemary Ridge Apartments in Virginia Press Release Image

Rosemary Ridge Phase I

Designed by LeMay Erickson Architects, Reston, Va., the wood-framed, garden-style community boasts a resident carwash, a fully equipped fitness center, and a tot lot. Phase II of the development will add a clubhouse and a pool. Apartments include gourmet kitchens, nine-foot ceilings, and full-size washers/dryers. Some apartments feature cathedral ceilings and gas fireplaces.

Floor plans are divided among 40 one-bed/one-bath apartments, 40 one-bed/one-bath with dens, 122 two-bed/two-bath, and 16 two-bed/two-bath with dens. Rosemary Ridge Apartments is located at the intersection of Rosemary and Ashton Avenue in Manassas, Va. The community is near Barron Park and Manassas National Battlefield Park, and is convenient to Route 66. The apartment community was developed by Clark Realty Capital* of Bethesda, Md., and O.G. Properties of Fairfax, Va. Clark Realty Builders** is the general contractor. The development is financed in part by a HUD-221(d)(4) loan.

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*Clark Realty Capital (CRC) offers a full spectrum of services to the real estate industry including development, investment management, property management, real estate strategies, and capital markets.

**Clark Realty Builders (CRB) is a national, multifamily general contractor recently ranked as the third largest such firm in the U.S. by Builder Magazine.