Drucker + Falk has been selected by Summit Pointe Realty to manage the first phase of a new 500-unit apartment complex inside the mixed-use Summit development. Drucker + Falk will provide multifamily development consultation and leasing and property management services for the planned apartments. The new scheme, located in Chesapeake, Virginia, is being developed on two adjacent blocks that will vary in height from four to eight floors as well as approximately 50,000 sq ft of retail stores and restaurants. Valued at $300m, Summit will serve as the new world headquarters for Dollar Tree and boast 510,000 sq ft of workspace. The adjacent parking deck will offer 1,500 spots. Completion is scheduled for this summer.
“In selecting Drucker + Falk, we are bringing 80 years of nationally known and respected professional, multifamily management experience to the Summit Pointe project. Drucker + Falk has been involved in some of the most successful multifamily urban luxury developments in the Mid-Atlantic region, and we could not be more excited to have them as part of the Summit Pointe team,” said Chris Williams of Summit Pointe Realty.
