Tuesday, October 23, 2012

The Crimson on Glebe Set to Break Ground

Having gained unanimous approval from the Arlington County Board back in May, The Crimson on Glebe, Crimson Partners' six-story 165-unit apartment building at 650 N. Glebe Road, across from Ballston Commons Mall, faces a clear runway to construction.

"We were approved for 165 apartments, so now we're working through the last of the permitting, " says Christian Chambers, Managing Partner at Crimson.  "We're going to break ground in January of next year."

The Crimson will also feature approximately 2,200 s.f. of ground floor retail space along Glebe Road; however, no decisions have been made yet as to a potential tenant.  "With this amount of retail space, we'll probably wait until closer to delivery before we sign someone in there," says Chambers.

The site, formerly a Goodyear tire store, is located on one of the area's longest blocks, and developers, as part of an agreement with the County, have agreed to build a 220-foot extension of North Tazewell Street at the rear of the property to ease resident access without disrupting traffic on Glebe.  Developers also secured increased density for the building (which was originally five stories) by agreeing to build to LEED Silver standards, and by contributing a half million dollars to the county's Affordable Housing Investment fund, $75,000 to the public art fund, and $42,000 to the utility fund.

For all those concessions, developers get to build a mixed-use building along one of the busiest stretches of Glebe Road, just a third of a mile from the metro, in the heart of commercial Arlington, at a time when the area is just starting to transition from an auto-centric area of strip malls, surface parking lots, and office buildings (a previously approved site plan, dating from 1989, was for a four-story office building) to a more pedestrian-friendly vision of shops, restaurants, and apartments.  This Janus-faced transitional moment is perhaps best summed up by developers' agreement to, on one hand, "encourage residents and retail tenants to live and work car-free," while on the other still providing 164 below-grade parking spaces.  The plan also calls for additional street trees along both frontages, as well as dramatically widened sidewalks.

The L-shaped, KTGY Group-designed building will feature a small internal courtyard for residents, and a varied facade of neutral-toned brick, laminate cladding, metal panels, and manufactured stone and glass, with a residential entrance and lobby along North Carlin Springs Road.  The average unit size will be just over 700 s.f.

Crimson Partners and Washington Real Estate Investment (WRIT) acquired the site for $11.8 million in June 2011; construction is expected to cost approximately $43.5 million.  Crimson is also working on the 65-acre Dulles Station project along the toll road.

Arlington, VA real estate development news


Erin said...

Seems to me almost like Glebe could be its own walkable corridor soon, no? Lots of projects going on there.

marko on Oct 25, 2015, 1:14:00 AM said...

Purchasing new with an auto credit lease includes two separate charges joined into one set regularly scheduled installment. There is the expense of the credit back that the lease includes and a joined expense for the diminishment in estimation of the auto while you are utilizing it. cash advance chicago

Robbert on Sep 7, 2016, 10:59:00 AM said...

Consenting to cosign a credit implies going into a legitimately restricting contract and in doing as such, the cosigner is ensuring installment to the loan specialist. The cosigner ought to just sign with you to get a terrible credit auto advance in the event that he or she can reimburse the moneylender if something turns out badly on not far off -, for example, you lose your employment or turn out to be sick and not able to work - the cosigner will venture up to the plate and make your installments for your benefit. Check Cashing

Robbert on Sep 9, 2016, 3:58:00 AM said...

Genuine, you need to get the auto you had always wanted, however as an understudy, you ought not go after the stars when you can scarcely achieve the moon. That credit is intended to give you four wheels, not as a matter of course some extravagant ones. Payday Loans Costa-mesa

Robbert on Sep 9, 2016, 6:48:00 AM said...

There are many online auto advance sites that offer auto advances with no credit that comprise of across the country systems of money related banks that have some expertise in numerous diverse sorts of advances that can be reasonable for an assortment of purchasers and their credit profiles.check cashing

Paulo on Sep 24, 2016, 11:07:00 AM said...

The Federal Home Loan Bank furnishes home advances with a great deal of points of interest to the borrower. Be that as it may, similar to all other bank advances, the first condition is that one needs to pay the home bank advance in simple installment portions over an impressive timeframe. cash advance

Paulo on Nov 20, 2016, 1:21:00 PM said...

It is a basic procedure yet one that can spare you a considerable measure of cash over the long haul and keeps your credit on favorable terms en route. The US Department of Education's Federal Student Aid Programs can help you take the sum owing on your government advances and unite them into another, low intrigue advance with one low installment. payday loans


DCmud - The Urban Real Estate Digest of Washington DC Copyright © 2008 Black Brown Pop Template by Ipiet's Blogger Template