HOFFMAN & ASSOCIATES ANNOUNCES MULTI-CITY EXPANSION AS IT CELEBRATES ITS 30TH ANNIVERSARY

Three New Projects in Charlotte, NC and Richmond, VA Will Add Over 1 Million Square Feet of Mixed-Use Development to the Nationally-Recognized Developer's Growing $6+ Billion Portfolio

WASHINGTON, June 5, 2023 /PRNewswire/ -- Hoffman & Associates, a nationally recognized developer and industry leader that specializes in mixed-use and residential communities, today announced its expansion into two new markets, Charlotte, NC and Richmond, VA, as the company celebrates its 30th anniversary.

"As we celebrate our 30th anniversary, I am proud of all that Hoffman & Associates has accomplished over the past three decades. From our very first townhouse conversion project in Washington DC to our current portfolio of over $6 billion of development, we have always been committed to creating impactful mixed-use and residential communities that stand the test of time," said Monty Hoffman, Founder and Chairman of Hoffman & Associates. "We are excited to continue our legacy of innovation and excellence, and to bring our vision to these new markets."

"Following the completion of Hoffman & Associates' largest project to date, The Wharf, we continue to focus on putting community first by creating inclusive, sustainable and innovative neighborhoods. With that, we are proud to announce our expansion into two new markets with our first projects in Charlotte, NC and Richmond, VA," said Shawn Seaman, President at Hoffman & Associates. "We look forward to bringing our expertise and building vibrant communities within these dynamic cities."

Hoffman & Associates was founded in 1993 with a single townhouse conversion in Washington, DC's Logan Circle neighborhood. Thirty years later, the company has grown into a nationally recognized market leader with an over $6 billion portfolio across the Mid-Atlantic and Southeast. The company's expansion into Charlotte and Richmond is a testament to Hoffman & Associates' position as an industry leader in the development of residential and mixed-use projects across the country. The company's expanding portfolio includes one of the largest waterfront developments in the nation, The Wharf, along with several key developments across the East Coast, from Seaboard Station, in downtown Raleigh, NC, to West Falls, the largest development in the history of the city of Falls Church, VA.

"As a company, we are always looking for opportunities to strategically expand our portfolio and bring our unique vision to new markets, and we are proud to grow our presence in the Southeast region," said Jon McAvoy, Chief Investment Officer at Hoffman & Associates. "Our investment in these areas, which marks nearly half a billion dollars, underscores our confidence in their economic vitality and our commitment to delivering innovative and sustainable developments. Our expansions into Charlotte and Richmond are exciting milestones for us, and in these new markets we will deliver outstanding mixed-use and residential communities that will enhance these vibrant cities."

Centrally located within the popular Scott's Addition neighborhood of Richmond, VA, 3200 W Moore Street is a $133 million, nearly 400,000 square foot mixed-use development that will include over 13,000 square feet of retail space and approximately 368 apartment units at full build-out, adding to the energetic mix of the neighborhood. Future residents can enjoy over 10,000 square feet of highly sought-after amenities, including multiple courtyards and terraces, an expansive pool deck as well as lounge, dining, and event spaces. Once an industrial area, Scott's Addition has evolved into a dynamic and diverse community. 3200 W Moore Street is slated to break ground in late 2024 and deliver in late 2026.

In Charlotte, NC, Hoffman & Associates will bring its signature development approach with two mixed-use residential developments in the heart of the South End neighborhood. The total combined cost will be over $300 million, and the projects will include over 800,000 square feet.

The first Charlotte project is located at 2500 Distribution Street and will feature approximately 330 apartment units and nearly 350,000 square feet. The building will boast an impressive array of amenities, both interior and exterior, which include over 10,000 square feet of communal space and extensive outdoor amenities. The project is slated to break ground in Spring 2024 and deliver in Fall 2026. The second project in Charlotte, located on the same street at 2401 Distribution Street, will be home to approximately 410 apartment units across nearly 425,000 square feet, along with over 5,000 square feet of curated retail. The project is slated to break ground in Spring 2025 and deliver in Summer 2027.

For more information about Hoffman & Associates, please visit www.hoffman-dev.com.

ABOUT HOFFMAN & ASSOCIATES
Hoffman & Associates is a nationally recognized leader in both residential and mixed-use development across the Mid-Atlantic and Southeast. Since its founding in 1993, Hoffman & Associates has developed over 75 mixed-use, residential, office and retail projects with an unwavering commitment to sustainable and innovative development that puts community first. Hoffman & Associates is an industry leader in creating inclusive communities that bring people together and enhance the way we socialize, work and live. The company has developments throughout the Washington, D.C. metropolitan area, Northern Virginia, Richmond, VA, Charlotte, NC and Raleigh, NC, with a portfolio totaling over $6 billion. Hoffman & Associates is also the managing member of Hoffman-Madison Waterfront, a joint venture with Madison Marquette, which developed The Wharf, a $3.6 billion, 3.5 million-square-foot neighborhood along Washington, D.C.'s waterfront. Other large-scale, neighborhood developments include Seaboard Station, West Falls, Parcel B at Audi Field and Union West. Hoffman & Associates' current residential portfolio includes Waterfront Station II, 4600 Fairfax Drive, Amaris, VIO, The Bower, 525 Water, The Tides, The Banks, The Channel and Incanto. Hoffman & Associates has offices in Washington, D.C. and Raleigh, North Carolina. For more information, please visit www.hoffman-dev.com.

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