Local leaders and new residents joined the development team of PTM Partners (PTM) and The IDI Group Companies (IDI) on January 25 to celebrate the completion of Viridium, a new 318-unit apartment building with unrivaled amenities on the Occoquan River in Woodbridge.
Viridium’s new complex includes its health and fitness center, club lounge, gaming lounge, theater, EV charging stations, and a mobile app that can serve as an electronic key.
The building completes a development IDI began implementing more than 15 years ago with the construction of Viridium’s sister building, Rivergate North, which features 402 apartments and is completed and leased in 2018. Also joining developers to mark the occasion were Prince William Board of County Supervisors Chair Ann Wheeler, along with Supervisors Margaret Franklin, Jeanine Lawson, and Yesli Vega; and Bob Sweeney, president of the Prince William County Chamber of Commerce.
“We are proud that our development vision has resulted in a lovely, state-of-the-art community to live in for hundreds of people,” said Scott Meyer, chief financial officer at PTM. “It’s really rewarding to not only see this community through, but also to see what a wonderful lifestyle it is bringing to our tenants,” added IDI Managing Director Carlos Cecchi. “The community response to what we’ve created here has been outstanding, and we’re looking forward to being substantially occupied over the course of this year.”
Adjacent to the Occoquan River, Viridium is close to shopping centers, Potomac Mills and Stonebridge at Potomac Center and is accessible via major commuter routes Interstate 95, Route 1, and the Woodbridge Virginia Railway Express. Rents range from $1,800 per month to $4,300 per month.
Additional project funders include United Bank, who provided $63.8million in construction financing, and EB5 Capital. EB5 Capital funded $15 million in the project as a preferred equity investment, with approximately 30 EB-5 foreign investors from various backgrounds invested in the project, which is on track to create nearly 700 jobs.
