Bisnow Content Partner:

United Bank
Sponsored Content

From A New Tech Hub To Luxury Apartments, The Rosslyn-Ballston Corridor Is Taking Off

Arlington, VA buildings in the background

1. The lasting impact of the pandemic and the work-from-home trend are continuing to cause pain for owners of office buildings in Arlington and the surrounding areas. As a result, the Rosslyn-Ballston corridor’s office vacancy rate has risen to 23.3% in Q2, according to Colliers. Will more office buildings be converted into multifamily to address the housing shortage?

2. Martin "Art" Walsh helped reshape Arlington’s skyline as the co-founder of prominent land use law firm Walsh ColucciHe died from a heart ailment on June 6. He played a major role in Northern Virginia’s rise into a commercial hub that continues to experience massive economic growth.

3. Boeing announced plans last month to open a Veterans center with Virginia Tech to help vets transition out of the military, and the company in May announced plans to move its global headquarters from Chicago to Arlington, Virginia. Boeing already has a roughly 450K SF office in the Crystal City neighborhood, and the company said it plans to open a new research and technology hub in the county.

4. George Mason University broke ground in April on its new 345K SF tech hub, Mason Square, in the Rosslyn-Ballston corridor. The facility is scheduled to open in 2025. “We are not just breaking ground on a building — we are truly breaking ground on Virginia’s future,” GMU President Gregory Washington said in a release.

A rendering of Jefferson Apartment Group's project at 1031 N Vermont St. in Ballston.
Courtesy of Jefferson Apartment Group
A rendering of Jefferson Apartment Group's project at 1031 North Vermont St. in Ballston

5. McLean-based Jefferson Apartment Group started work in April on a new boutique apartment complex at 1031 North Vermont St., four blocks from the Ballston-Marymount University Metro Station. It features 98 multifamily units with stainless steel appliances, a resident lounge, a rooftop terrace and resident storage. Construction is slated to finish in early 2024.

6. Chopt opened its new eco-conscious location on the bottom floor of the Ballston Exchange on July 13. The creative salad location focuses on a sustainability and contact-free store model.

7. On July 13, Penzance announced the sale of Evo, one of three multifamily properties at the Highlands development in Rosslyn, to Atlanta-based Cortland. Evo has over 30K SF of amenity space and 450 luxury units. “After the successful sale of Aubrey at The Highlands development to Cortland in May, we’re excited to announce another sale of our second apartment tower, Evo, to the same team,” Penzance Chief Development and Construction Officer John Kusturiss said.

Continue reading this story with a free account

Log in or register

More About Our Sponsor

| United Bank

United Bank is the largest community bank headquartered in the Nation's capital. We've partnered with Bisnow to highlight the many incredible neighborhoods that make our region great through Neighborhood publications like these, and through the monthly United Bank Neighborhood Event series, which we encourage you to attend.

Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Jemals Sell Georgetown Building To Developer Planning Conversion

D.C.'s Office Market Is Getting A Makeover

Judge Rules FBI Can't Scrap Maryland Headquarters Plan

CGI Merchant Had A-Rod's Backing And A $650M Fund. Then It Bought Trump's D.C. Hotel And It All Fell Apart

Brookfield Offloads 3-Building Silver Spring Office Complex

Student Housing Investor Buys Foggy Bottom Residences: The D.C. Deal Sheet

'We Messed Up With Rent Control': CRE Execs On MoCo's Multifamily Hurdle

New National Geographic Museum Food Hall By Winmar Blends Design With Elevated Dining

Commanders Pick Clark Construction, 2 Others To Build D.C. NFL Stadium

Maryland ICE Facility Construction Can Resume After Court Reinstates Permits

JBG Smith Says Loss Is Improbable From $356M Wardman Tower Ruling

Compass Coffee Says It Lacks Cash For Bankruptcy Plan, Seeks To Toss Case