6003 Kingstowne Village Parkway
Update
08/19/22
Gigantic Kingstown Village Parkway Development Under Contract
The Halle Companies may be selling the last parcel of the Kingstowne Village Parkway development.
The project is approved for multifamily development, while the majority of the 300,000 sq. ft. is predominantly retail. The 4.7-acre parking lot was approved in 2020 for two side-by-side buildings comprising nearly 715,000 sq. ft. of multifamily and more than 11,000 sq. ft. of ground-floor retail.
The development began decades ago as part of its massive, 1,300-acre Kingstowne master-planned community. It sold the majority of the assemblage, Kingstowne Towne Center and the adjacent Kingstowne Shopping Center, to Federal Realty Investment Trust for $100 million each in July.
It sold other portions earlier than that, including an office block and a movie theater, now owned by Boston Properties Inc. and New Jersey's Melrose Solomon Enterprises, respectively.
Finally, the subject site between Kingstowne Village Parkway and Kingstowne Towne Center is under contract with The NRP Group, according to an NRP representative's letter. The letter seeks minor modifications, including reducing the retail space and balancing the size between the two buildings, for an addition of about 7,000 additional sq. ft.
