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Jun. 27, 2013

JBG Debuts 474-Unit M-F Project Near Rosslyn Metro; Luxury Condo Conversion in Pipeline

By Adrian Maties, Associate Editor

Arlington County officials joined JBG Cos. on June 19 to mark the opening of Sedona|Slate, a mixed-use community in Rosslyn that is the first development in Arlington County to earn LEED Gold certification.

Comprising 15-story and 12-story towers at 1510 & 1530 Clarendon Boulevard,  three blocks from the Rosslyn Metro station, the community offers 474  apartment homes plus 10,000 square feet of retail space. Jimmy John’s Gourmet Sandwiches is the first retailer to sign a lease at the Sedona|Slate, according to the Washington Business Journal.

According to Chevy Chase, Md.-based JBG, 55 of Sedona|Slate’s apartments are designated affordable units, all of which are  leased. The 271-unit Sedona, the first tower to open, is about 70% leased. The 203-unit Slate will open in July. Amenities include an urban pocket park, club rooms, rooftop pool, sundeck, and fitness facilities.

The U.S. Green Building Council has awarded the Sedona|Slate LEED Gold certification for its use of wind power renewable energy credits, high-efficiency water fixtures, programmable thermostats,  light-colored roofing materials and Energy Star appliances, among other features. Residents who drive  hybrid or other  fuel-efficient vehicles will get preferred parking in the 427-space garage.

JBG’s local development plans also include converting the historic tower at the Marriott Wardman Park to high-end condos. As the Washington Business Journal recently reported that the company is looking for financial partners to invest in its proposed conversion of the Marriott Wardman Park’s historic tower to 37 high-end condos.

JBG and CIM Group L.P., its Los Angeles-based partner, acquired the 1,334-key property eight years ago in a deal valued at about $300 million.  They have assigned Cassidy Turley to line up pre-sale or equity recapitalization for the project. JBG amd CIM Group are eyeing a November start date for the conversion, which they are aiming to complete by November 2014.

Photo credits: The JBG Cos.

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