Towering Over Rosslyn

The Highlands, Penzance's new mixed use development on Rosslyn's highest perch, is still a year away but taking its final shape as the buildings have now topped out.   Named for it's high seat atop the hill at Rosslyn's Highlands Park, the ambitious construction project includes 3 towers with a collective 884 units - 331 rental units spread over 23 floors at The Aubrey, 104 condominiums over 26 floors at The Pierce, and 449 apartment units in a 27 story tower at Evo.  Both the Evo and Pierce top out at 270' above ground.

The towers were built on the site of an office building owned by Penzance (1555 Wilson Blvd), and a fire station owned by Arlington county.  The county gave Penzance a lease of up to 125 years (including options) for its site, with rent calculated based on land value minus the developer's improvements to the property, and included a new fire station incorporated into the project facing Wilson Boulevard.

So far, CVS and Vida Fitness have signed as retail tenants, which together with the residents will be served by a 4 level, 1060 space garage below ground.  Hickok Cole, the Georgetown-based architect designing two of the three towers (Evo and Pierce), is anticipating a LEED Silver rating for the buildings.

While the Aubrey will sit on the west side of North Pierce Street - a new extension not in alignment with the existing street, Pierce (the condo) and Evo will share a "resort style pool and cascading waterfall feature" on the roof of Evo, according to Rhea Vaflor of Hickok Cole, while the condo will have its own private rooftop features, and in between will be a 3rd floor garden terrace overlook.  Vaflor describes the buildings as "transformative" to that area of Rosslyn, with apartments "right-sized for the single professional and young couple" with high-end features.  The project aims to finish in the 3rd quarter 2021.

Project:  The Highlands

Address:  1525 Wilson Boulevard, Rosslyn, VA

Developer:  Penzance

Architect:  Hickok Cole Architects, Studios Architecture

Construction:  Whiting-Turner 

Use:  884 Residential units

Expected Completion:  Q3 2021

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Washington D.C. retail and real estate development news

Penzance Announces Partner and Start Date for Clarendon Office Project

D.C. based Penzance announced today it has partnered with Invesco Real Estate in a joint venture to build its 2-building office project at 3001-3003 Washington Boulevard near the Clarendon Metro station, setting up development for a May groundbreaking.

The partnership with Invesco comes after Penzance had teed up the development, gaining county approval of plans for the 280,000 s.f. project in January, at which time it also leased most of the space - 173,000 s.f. - to federally-funded CNA (the Center for Naval Analyses), which will transfer 600 employees from its Mark Center location in 2014.

Penzance plans two office buildings - 8-stories and 10-stories - with shared 4-level below-grade parking deck and 28,000 s.f. of combined ground floor retail space with outdoor seating area. Several of the older buildings on the block will be kept intact during construction. Noritake Associates designed the project that is expected to earn a minimum ranking of LEED Silver, while holding out the possibility of a Platinum ranking for the site.

Penzance has developed and operates numerous properties throughout Washington D.C. and Arlington, including 455 Massachusetts Avenue in Mt. Vernon Triangle.

Arlington, Virginia real estate development news

Penzance Tees Up Clarendon LEED Office Project

D.C. based Penzance has announced it will submit its final plans to Arlington for development of its Clarendon Metro office project, a step that potentially puts the start date less than a year away for the 300,000 s.f. office project.

Penzance plans two office buildings for the site, an 8-story and a 10-story building with shared 4-level below-grade parking deck and 28,000 s.f. of combined ground floor retail space with an expansive sidewalk area to accommodate outdoor seating. Several of the older buildings on the block will be kept intact during construction.

Noritake Associates designed the project that developers say will "reinforce Clarendon’s status as a true live-work-play urban environment." The design is expected to earn a minimum ranking of LEED Silver, but developers say they are working toward a Platinum ranking for the site, scheduled to break ground in spring of 2012. Jones Lang LaSalle will market the property. A general contractor has not yet been selected.

Penzance has developed and operates numerous properties throughout Washington D.C. and Arlington, including 455 Massachusetts Avenue in Mt. Vernon Triangle.
Arlington, Virginia real estate development news