New plans have emerged to bring a large-scale, mixed-use development to a prominent Rosslyn waterfront site that has languished for several years.

Quadrangle Development Corp. announced it is working to develop the site of the former Key Bridge Marriott — once the longest-operating Marriott in the world — on behalf of the prior developer's lender.

Called Potomac Overlook, the site overlooking the Potomac River is slated for 1,775 residential units across five buildings, a 200-room hotel and connecting green spaces, including an extension of the public Gateway Park next door.

Quadrangle is planning the buildings to be tall, slender and “thoughtfully spaced” in order to maximize view corridors, according to a Quadrangle news release.

“This is an exceptional opportunity to activate an incredible property at the center of so much activity in Rosslyn and the entire DMV,” Quadrangle President Christopher Gladstone said in the release. “Our design purposefully invites the public in to enjoy this unique water view property offering outstanding views over the Potomac River and toward the Nation’s Capital.”

The developer said it filed a zoning application for the project with Arlington County in late December.

It is the second set of plans for the 5.5-acre site since 2018. Early that year, Woodridge Capital Partners and Oaktree Capital Management purchased the property to redevelop it into a 450-unit mixed-use project. Those plans included renovating the 12-story Marriott and building three new 16-story residential towers.

The developers received approval for the development in 2020, and the Marriott shut down in 2021. By March 2023, the property had fallen into a state of neglect, and police took action to clear out squatters.

Quadrangle’s release says the lender, “which holds the defaulted first-lien mortgage debt on the land,” selected the D.C.-based developer to “reimagine the vacant site’s exciting future.”

The lender is Claros Mortgage Trust, an affiliate of Mack Real Estate Credit Strategies. Bisnow reported in 2023 that Claros had issued a $148.5M loan to Woodridge and Oaktree in 2018, and its latest earnings report showed it still holds the loan.

Woodridge didn't respond to requests for comment, and a spokesperson for Oaktree declined to comment.

The Potomac Overlook development would be near another large residential project. Penzance is planning 845 units across three buildings at a development called One Rosslyn. The project received zoning approval in July.

Quadrangle is behind another residential project nearby. It plans to convert a 360K SF office building near Arlington’s Courthouse Metro station that it purchased from MetLife last summer into 295 units, with a projected 2027 delivery.