MRP Realty and The JBG Cos. have started construction on The Alric, a 323-unit apartment building at 731 Seaton Ave. in Alexandria.

The Alric is the first phase of The Exchange at Potomac Yard, a 14-acre development within the existing, 300-acre Potomac Yard community.

The apartment project includes two, five-story buildings and is expected to be completed by late 2014.

SK&I Architectural Design Group designed the project.