Multi-Tower DC Development Gets Approved
The project will bring hundreds of apartments to the area.
The Arlington, Va. County Board has approved construction of One Rosslyn, a development that will deliver 845 apartments totaling over 970,000 square feet across three high-rise buildings. The project will see the construction of apartments, residential condominiums and retail space along the new Gateway Park in Rosslyn, Va., a close-in suburb of Washington, D.C.
Developer Penzance plans to build three architecturally distinct towers at the site of several aging office buildings, each with street-level retail and green space. The project is being undertaken in partnership with Boston-based investment manager the Baupost Group.
One Rosslyn’s northeast tower, rising 253 feet, will offer 73 for-sale condominium residences. The northwest apartment tower will include 311 rental units and stand 285 feet tall.
The tallest structure, the south apartment tower, will reach 300 feet and deliver 461 rental residences. At the ground level, over 14,000 square feet of retail space will be part of the streetscape, spanning four blocks. The developer hasn’t released a development timetable.
STUDIOS Architecture and Hickok Cole created the three-tower composition, which is designed to enhance walkability and encourage multimodal transportation, according to the developer. The project will include four blocks of public sidewalks wider than 18 feet, over 400 feet of new bike lanes and dozens of new street trees.
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One Rosslyn residents will have access to a private 30,000-square-foot landscaped terrace overlooking Gateway Park, which offers landscaped recreational areas and wellness-centered amenities.
NoVa leads in apartment occupancy
Metro DC is a tight apartment market, and Virginia submarkets lead the metro in occupancy. Northern Virginia communities began 2025 at 3.5 percent vacant, having started to recover earlier than Maryland and D.C. proper, Institutional Property Advisors reports.
Multifamily vacancy rates declined between 140 and 170 basis points annually in northern Virginia, reflecting the influence of local employment drivers like Amazon’s HQ2, IPA notes. Proximity to D.C. also provides an advantage.
Even with recent demand growth, however, headwinds in government contracting and tech employment could soften leasing momentum over the course of the year, IPA reports.
