The long anticipated Rivergate Condiminum project in Prince William County is now underway. The community located on the Occoquan River will eventually house three fifteen story buildings and a 10,000 square foot club house and marina. This will make it the largest high rise development in Prince William County. Currently the largest high rise in the county is the nine story Harborview Condominium located a quarter mile down the river in Belmont Bay.
Ground breaking was originally scheduled for the first quarter of 2007 but the projection is still for the first building to be ready for new owners by the end of 2008. Since sales first started there have been some changes to options, such as all of the balconies will be enclosed as sunrooms instead of an option for buyers.
With a projected seven year time f ame to build out the entire community Prince William County residents commuting on either I-95 or Route 1 will be able to keep a watch on the progress of the area. The development is another project by IDI which has been responsible for other notable projects in Northern Virginia including Rotonda in McLean and Caryle Towers in Alexandria. In 1977 IDI was responsible for the conversion of Parkfairfax from rental units to condominiums without disturbing any of the existing tenants.
The site for the Rivergate project might be a bit questionable the way the area currently appears. A proposed new interchange, widening of Route 1 beyond the Occoquan River and the future of the cement plant currently at the entrance to the Rivergate site will all need to be finalized to make the area feel more like a residential area and not an industrial site.
Current prices at the Rivergate run between the mid 200’s for a one bedroom unit and the high $500’s for the largest 3 bedroom unit. If you are interested in more information on the Rivergate project or other waterfront condominiums in our area give me a call. Even if you are looking for new construction you should be represented by an agent. It doesn’t cost you any more and you might be surprised what an agent can negotiate for you!
UPDATE: NOVEMBER 2008 CONSTRUCTION DELAYED
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As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.
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The site for the Rivergate project being a bit questionable is an understatement. Based on what I can see, your choice of views are either the river, (with the cement factory blocking your view) an interior unit facing another building, or the lovely I95. Anyone would be out of their mind to buy a unit facing the cement factory until that issue is resolved. And why does IDI want you to give them a deposit now that they claim they will not touch until the your unit is completed. If they are not going to use your money, why do they want it in the first place? In this buyer's market, I hardly think you need a deposit now to hold a unit that may or may not ever be built.