Atlantic Realty hoping to revamp Sterling Plaza
Vienna-based property management company Atlantic Realty was listed as a co-applicant on the submission and the Atlantic Realty address was given as the owner of the property.
Renovations to the property, which is already zoned for residential and commercial uses, would include an "exterior facelift of existing buildings, parking lot adjustments and enhancements to improve pedestrian connectivity. Also to include enhanced pedestrian crosswalk connection across Sterling Boulevard."
McCaffery Interests sold the property to Atlantic Realty in November for $26.5 million.
In 2010, McCaffery Interests renovated the shopping center.
Chicago, Ill.-based McCaffery Interests "targets investment in and the development or redevelopment of under performing, urban real estate," according to its website.
In a document, Atlantic Realty wrote, "The renovation to existing shopping center with additional retail and multi-family uses will further the goals of revitalization of older commercial areas in the county."
Sterling Plaza I and Sterling Plaza II have a total of more than 150,000 square feet of retail space and almost 900 parking spaces.
The pre-application discussion is slated for April 8.
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