Thanks to a $48 million bank loan, local developer Ironwood Realty is moving forward with construction of a 163,000 square foot mixed-use building on the site, which was most-recently home to a CVS Pharmacy. Work is set to begin in the next 2-3 weeks, according to the Washington Business Journal.
When completed, the development — dubbed Garfield Park at Clarendon Village — will house 149 luxury apartment units, 20,000 square feet of retail space and nearly 300 underground parking spaces.