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The 10 Biggest Developments in the R-B Corridor Pipeline

WASHINGTON DC 04.18.2017

THE FUTURE OF LOUDOUN COUNTY<BR>AND COCKTAIL SCHMOOZE!

Exclusive Bisnow Reception to Follow Panels

Chris Clemente -- Comstock Partners
Minh Le -- Gramercy District
Brian Cullen -- Keane Enterprises

There’s no Height Act in the Rosslyn-Ballston Corridor and so developers like JBG and Carr Properties are building big, contributing to the millions of square feet under construction and in the works long-term. Here are the 10 biggest projects in the corridor, all of which will be discussed on Nov. 18 at our Future of the R-B Corridor event at the Westin Arlington Gateway, starting 7:30am.

1. Ballston Quarter

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: Forest City Washington
Details: Turning a decades-old mall into an open-air town center; 22-story, 405-unit residential tower; renovating office building into Class-A, 158k SF building.
Expected delivery: Phase 1 in 2018

The complete gutting of the Ballston Common Mall has been a long time coming. After years of stale business—and losing customers to the Pentagon City Mall and Tysons Corner just a few miles away—Forest City is turning it from an out-of-date enclosed mall to an open air town center, with residential and office components on top. The Arlington County Board is expected to give final approval on Tuesday, including a $45M incentive to be paid back with increased taxes once the project is built.

2. Central Place

Central Place JBG Merger New York REIT

Developer: JBG
Details: Twin 31-story towers, one office, one residential
Expected delivery: Residential 2017, Office 2018

These two towers will completely remake the skyline of the neighborhood across the Potomac when they’re complete. In 2018, the office tower will be home to 350k SF of CEB offices, moving from their current home across the street in the Waterview building. JBG developed that building, signed CEB as a tenant, thanks to local incentive money, and sold it to Prudential Real Estate Advisors for $413M in 2007. Now CEB and JBG will get almost $15M in incentives and infrastructure improvements from Arlington and Virginia. But the twin, 390-foot towers figure to be worth it, coming with a central plaza, two-story retail hub and observation deck.

Rosenthal Mazda site

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: Saul Centers
Details: 435-unit residential building, 63k SF retail
Expected delivery: N/A

This development became a lot more high-profile this summer when we reported that it was a possible landing spot for Ballston’s first Whole Foods (and the R-B Corridor’s second). It’s just a block away from Ballston Quarter, but we don't know nearly as much about it because .

4. The Red Top Cab site

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: The Shooshan Co 
Details: 584 units in three buildings
Expected delivery: N/A

The largest undeveloped plot of land in Clarendon is about to be developed into a three-building residential project. Clarendon is arguably the hottest residential submarket in the region, with projects leasing up at breakneck speed and rents that are higher than most neighborhoods in the District. A hopping bar scene, a Trader Joe’s, a Whole Foods and an Apple Store all contribute to one of the densest Millennial populations in the country.

5. 1401 Wilson Blvd

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: Monday Properties
Details: 513k SF office building, 274-unit residential tower, 52k SF of retail
Expected delivery: Residential 2020, Office 2021 (pending pre-lease)

Across the street from 1812 North Moore—yup, still empty, but Monday CEO Anthony Westreich isn’t panicking—are two obsolete office buildings that the most prominent landlord in Rosslyn is tearing down and redeveloping. A grocery store will go in the ground floor of the building that's currently 1400 Key Blvd. Monday owns 3M SF of office properties in Rosslyn, and one of the two buildings will be its first residential development in the area.

6. Marymount University at Ballston Center

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: The Shooshan Co
Details: Nine-story office building for MU, 267-unit apartment building
Expected delivery: Summer 2017

The old “Blue Goose” building at the corner of North Glebe Road and Fairfax Drive—a prominent intersection in Ballston—was an undeniable eyesore. When Marymount decided it wanted an upgrade, TSC won an open developer competition for the site. Now, it’s building the Gensler and SK&I-designed buildings as a gateway to “the other side” of Ballston, north of Fairfax Drive.

7. The Wendy's Courthouse Site

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: Carr Properties
Details: 185k SF, 12-story office building, 7k SF retail, public plaza
Expected delivery: N/A

This site doesn’t have the raw square footage of the others on this list, but anyone who knows the corridor knows it’s going to have a huge visual impact. Gone will be the Wendy’s drive-thru at a prominent intersection steps from the county jail, courthouse and government headquarters. In its place will be a beautifully designed, gateway office building from Carr Properties. CEO Oliver Carr will also be a panelist at our event.

8. Rosslyn Gateway

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: JBG
Details: 24-story, 489k SF office building; 28-story dual residential/hotel building
Expected delivery: N/A

Just across 19th Street from Central Place, JBG has long-term plans to redevelop its aging office buildings along Ft. Myer Drive. It’s unlikely these are brought to fruition anytime soon—no thanks to Rosslyn’s sky-high office vacancy—but when they are, they will be another sterling addition to the Rosslyn market. Almost every old building in Rosslyn has gorgeous redevelopment plans (like No. 5 on this list), but it’s anyone’s guess when the neighborhood will start to pick up.

9. 4000 and 4040 Fairfax Drive

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: Penzance
Details: 22-story, 330-unit apartment building
Expected delivery: 2018

Penzance bought this site, and 4040 Fairfax Dr behind it, last December for $56.2M. First, it plans to tear down the popular bar Carpool and build an apartment tower. Then, in Phase 2, the duo plan to tear down the Webb Building at 4040 Fairfax and replace it with new, as-yet-undetermined construction.

3. 4040 Wilson Blvd

The 10 Biggest Developments in the R-B Corridor Pipeline

Developer: The Shooshan Co 
Details: 20-story, 425k SF office tower
Expected delivery: 14 months after signing an anchor tenant

The parking deck beneath this planned office tower is built and ready to go. Once a tenant is signed on the dotted line, the tower will rise rapidly, across North Randolph Street from Ballston Quarter. It’s the final piece of TSC’s eight-building, two-block Liberty Center complex.