401-Unit Expansion of DC Area Community Gets Green Light
- Jul 26, 2016
Arlington, Va.—The Arlington County Board unanimously approved an infill development plan that will add 401 apartments to the existing 711-unit Wellington Apartments community in Columbia Heights. The 1201 S Rhodes St. project, just south of Columbia Pike, will also convert 105 existing units to committed affordable housing.
WashREIT bought Wellington Apartments last year for $167 million—approximately $235,000 per unit—according to Yardi Matrix. The transaction also included the land planned for further development. The property, which was completed in 1960, has a 92.8 percent occupancy rate and is being managed by the Bozzuto Group. Currently, Wellington Apartments offers 169 studios, 321 one-, 209 two- and 12 three-bedroom units ranging between 567 and 1,584 square feet.
The LEED Silver-proposed project will add a six-story building, 453 parking spots, 161 bicycle spaces, new street connections and a 35,531-square-foot public park. Offering quick access to Interstate 395 and close to Pentagon City, Rosslyn and downtown Washington, D.C., the North Virginia development is conveniently located near a plethora of major employers and retail options.
“Our efforts to revitalize the Pike through innovative approaches to land use and zoning, while striving to preserve its stock of affordable housing, continue to show results,” said County Board Chair Libby Garvey in a prepared statement. “This is an example where a developer, by choosing Form Based Code, is maximizing this site’s potential and adding both committed affordable and market rate housing to the Pike.”
Rendering courtesy of arlingtonva.us, image courtesy of Yardi Matrix