Jefferson Apartment Group has acquired 4000 Fairfax Drive, a 0.61-acre site in the Rosslyn-Ballston corridor of Arlington, Va., and formerly the home of the sports bar CarPool. The site is approved for up to 330 residential units in a 22-story high-rise at the corner of Fairfax Dr. and North Quincy St.
The project is being built by McLean, Va.-based Jefferson in partnership with Mitsui Fudosan America Inc., which is providing both debt and equity to the project. “Our strategy has been to form relationships with local partners who share our long-term view,” said John Westerfield, CEO of MFA.
Common amenities will include a resort-style, rooftop swimming pool with sundeck and views of Arlington and Washington, D.C. The property will also feature a fitness center, clubroom, rooftop outdoor lounge with fire pits and multiple grill stations, and 24/7 concierge service.
Besides its residential component, the urban infill apartment community will have 264 below-grade parking spaces and 8,260 square feet of ground-floor retail. The developer plans to break ground on the property late this year.
The property counts as TOD, since it’s less than a quarter mile from the Ballston Metro Station, which is on the system’s Orange & Silver Lines. It also has a Walk Score of 96 (Walker’s Paradise), meaning that residents can do almost all ordinary errands without a car.