The Myrtles at Olde Towne was the first Hampton Roads development led by Daniel W. Aston, in partnership with Roseland Property Company and Prudential Life. The community is situated on a 10-acre site at the entrance to the Portsmouth Naval Medical Center, on land formerly occupied by Portsmouth General Hospital. The site had remained vacant for nearly a decade prior to redevelopment.

Mr. Aston negotiated the acquisition of the property from the Portsmouth Redevelopment & Housing Authority on behalf of The Whitmore Company, with a commitment to deliver first-class, institutional-quality apartment housing. To complete the assemblage, additional parcels were successfully negotiated with the U.S. Navy and the U.S. Department of Housing and Urban Development.

Completed in 2004, The Myrtles at Olde Towne is a 246-unit, elevator-served community offering one- and two-bedroom residences. The three-story Georgian-style buildings feature central corridors, an expansive clubhouse, and multiple garage structures distributed throughout the site.

Upon opening, the property achieved the highest rental rates in the Hampton Roads market and set a new benchmark for quality multifamily housing in the region. The community leased in record time and received numerous industry awards recognizing it as one of the area’s premier residential developments.

The property was subsequently sold to a national multifamily REIT at a record-setting price for the Hampton Roads market.