TideLock Project Receives Construction Financing

Photo: Kennedy Wilson

Congratulations are in order! TideLock, the approximately one and a half acre site at 1033, 1055 and 1111 North Fairfax Street in Old Town North will soon be under construction. The project is a joint venture of Community Three and Whitaker Investment Corp. Financing has been arranged by Cushman & Wakefield in the form of a $96 million loan from Kennedy Wilson.

Built in 1983, the three existing office buildings that were formerly home to the American Physical Therapy Association will become a mixed-use development with 169 residential rental apartments, 65 luxury condominiums, and about 7,000 square feet of retail and arts space. Eleven of the rental units and four of the condos will be set aside for affordable housing. The vast majority of the rental units will have views of the Potomac River.  In keeping with the goals of the Old Town North Small Area Plan and the burgeoning Arts & Cultural District, the development will also feature a public pedestrian promenade leading to TideLock park, public art installations and an historical interpretive display.  The project will earn LEED Silver certification.

The TideLock project was originally envisioned in 2019, but was delayed by the COVID-19 pandemic. The general contractor is Clark Construction. The project is expected to be completed in January 2026.  You can follow the construction and sign up for email updates at www.Build-TideLock.com.

It is very exciting to have TideLock underway shortly.