JAG, Mitsui Fudosan to Develop Northern Virginia High-Rise
The upscale community will be close to the Georgetown neighborhood and the Washington, D.C., core.
A joint venture between Jefferson Apartment Group and Mitsui Fudosan America Inc. has acquired 1901 N. Moore St. in Arlington, Va. The partners plan to redevelop the former RCA building into a 27-story luxury high-rise.
Plans for the property encompass 422 apartments across the two towers, four levels of parking as well as 11,000 square feet of ground-floor retail space. Units will range from 435 to 2,141 square feet, which will include studio to 3-bedroom apartments as well as den units and penthouses. Apartments will feature upscale finishes, open floor plans with high ceilings, floor-to-ceiling windows and private balconies.
The community is set to include a glass skybridge with a transparent floor which will allow a bird’s-eye view of the elevated plaza below and will feature a clubroom with full kitchen, private dining room, fireplace and gaming area. The rooftop will also offer a pool, entertainment deck and 360-degree observation deck. Other community amenities are slated to incorporate full-time concierge service, coworking space, pet spa and a bicycle storage and tuning facility.
Located on the corner of 19th and North Moore streets in Arlington’s Rosslyn neighborhood, the lot is one block from the Rosslyn Metro Station. The roughly 1-acre site is situated at the foot of the Key Bridge connecting Northern Virginia with the Georgetown neighborhood of Washington, D.C., which the community will be overlooking.
Elaine Vrooman, senior director of development for MFA, mentioned in prepared remarks that one of the company’s key corporate objectives is to deliver assets through relationships with local partners. JAG COO & Partner Greg Lamb stated that the deal closed on time in spite of economic headwinds. Greatly accelerated by Amazon’s decision to plant its flag nearby, the Arlington market continues to grow, with large-scale transactions making headlines.