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The plans to build an apartment building on a prominent Arlington County site once planned for office are moving forward.
Greystar acquired the development site at 2025 Clarendon Blvd. in the Courthouse neighborhood from Carr Properties for $19M, and the buyer plans to build a 220-unit development, JLL announced Thursday.
JLL's Jim Meisel, Walter Coker, Matt Nicholson, Brian Crivella and Robert Jenkins represented the seller in the deal.
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Carr Properties received county approval in 2015 to build a 12-story office tower on the site with 185K SF of office and 7K SF of retail. The property sits at the intersection of Clarendon Boulevard and Courthouse Road, two blocks from the Courthouse Metro station. The county called the site a "major gateway" and "focal point" of future development in the Courthouse neighborhood when Carr pitched the office building in 2014.
Before closing on the acquisition, Greystar filed plans with the county in October for a 16-story apartment building on the site. The plans called for 225 apartments and 4K SF of retail.
Greystar has another, larger development planned two blocks away. The developer filed plans in March to build a 20-story residential building with 418 apartments and 18K SF of retail at 2050 Wilson Blvd.
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