The Brad and Angelina of Arlington
Want to get a jump-start on upcoming deals? Meet the major D.C. players at one of our upcoming events!
Crystal City and Pentagon City are slowly becoming a power couple. (Heck, they already share a last name: "city.") On top of that, the head of the Crystal City BID is already named Angie (as in Fox, not Jolie). Of course, they do have some differences: corporate v. startup, young v. established, work v. living. We'll be showcasing these incredible two stars at our Bisnow Summit on March 27, part of our Neighborhood Series presented by United Bank. Please join us!
Speaking of Angie Fox, she tells us “Crystal City is a creative canvas." (She's pictured in her own colorful and creative space.) And for the predominantly Millennial population, it seems like they are painting the town a multitude of technologically, anti-9 to 5 colors, to create the perfect work/life/community picture.
Development here is clearly booming. (We assume only boomish things get dots and colors on a map.) Upcoming highlighted projects include: the Crystal City/Potomac Yard transitway; in residential, most notably the WeWork Residential initiative called WeLive, and The Acadia.
LCOR SVP Harmar Thompson says there used to be a “no-man’s land” in between the two neighborhoods, once bursting with industrial product, but now creating a barrier. He cites construction on The Altaire condo/apartment project and the new Whole Foods as bridging the divide. And he sees transformation of the area from a majorly office market to a more balanced work/life market, and that's bringing in residents—not to mention new bars like the High Line.
The transformation of 400 Army Navy Dr from office to residential is one example of encouraging a “better” use of unused office inventory. Pictured: a rendering of The Altaire.
Vornado/Charles E. Smith SVP Mitch Bonnano (snapped here pointing to a crystal in Crystal City, or maybe it's the Pentagon in Pentagon City) says the real estate business has changed more in the past five years than he’s seen in his entire career.
Mitch is enthusiastic about the Whole Foods and Bartlett residential developments, creating a vibrant connection along 12th Street. Other Vornado activity: the US Marshalls lease at 1215 S Clark St—where Boeing is moving from to its own digs—and an office/residential spot at 223 23rd St, currently in public process with the county, he says.
And don't forget the forthcoming balance of shopping and living at South Hayes and 15th streets. Kimco's Tom Simmons gave us the deets.
Downstairs, residents will enjoy Best Buy, Costco, Nordstrom Rack, Marshalls and more. Tom tells us the development "fills a unique niche in terms of what we do, and we’re layering onto that with the retail component. And creating something truly new while elevating the familiar is indicative of the big shifts happening in Crystal City and Pentagon City, into which we'll delve further at Bisnow's Tale of Two Cities event on March 27 at the Westin Crystal City, part of our Neighborhood Series sponsored by United Bank.