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Penzance has struck a deal with Arlington County for a ground lease on the site of Fire Station 10 and Rosslyn Heights Park, where it plans a mixed-use development.
The county is leasing the site, at 1559 and 1579 Wilson Blvd, to the DC-based developer for 75 years, the Washington Business Journal reports.
In addition to building a new fire station and a new park, Penzance's plan includes a 17-story office building and two high-rise residential buildings reaching 27 and 24 stories. The development will also be on the site of 1555 Wilson, which Penzance already owns.
To house a temporary fire station, Arlington County is leasing an 18k SF site next to the Wilson School. That school is about to undergo an $86M redesign by famed architect Bjarke Ingels.
The Arlington County Board will vote on the Penzance deal on July 16, and the lease will begin once the temporary fire station is complete. Penzance must submit a site plan for the new development by the end of 2017. [WBJ]
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