Kettler to Start Construction on Crystal City Rental Property
- Oct 13, 2014
Tysons Corner, Va.—Real estate development firm Kettler is moving ahead with development of an 11-story, 198-unit luxury high-rise apartment project called m.flats Crystal City in the Crystal City neighborhood of Arlington, Va.
Designed to meet the growing demand for smaller, luxury units targeted at single renters, young professionals and couples, the LEED Silver-designed building will be situated one block from the Crystal City Metro station.
Construction will start at the end of this month, with completion slated for October 2016. Lender Capital One is providing the construction loan.
“The construction financing provided by Capital One paves the way for building our second m.flats luxury apartment building in the Washington, D.C. region,” says Kettler Senior Vice President of finance Leslie Furst. “Capital One has proven itself to be a strong and reliable partner. We anticipate our relationship with them will continue to grow as we expand in this market.”
The apartment community will mainly feature one-bedroom and two-bedroom units with standard unit finishes of washed oak flooring, quartz countertops and stainless steel appliances. Common-area amenities include a resident lounge with gaming area, fitness center, street-entry bike room and all-season landscaped courtyard with fire and water features.
An upper two-level clubhouse will feature multiple outdoor seating and dining areas, outdoor kitchens with grills, fireplace and southern-facing sundeck with cabanas encircling the swimming pool.
This is to be Kettler’s sixth multifamily project in the Crystal City/Pentagon market. The company is building The Acadia, a 411-unit high-rise luxury apartment building in Metropolitan Park. Pre-leasing is expected at that development starting in the spring of 2015.
Full-service architectural and planning firm KTGY Group Inc. is the architect on the project. The engineer is civil engineering and consulting services firm Bohler Engineering, and the general contractor is John Moriarty & Associates.
“Our m.flats apartments are meeting a growing demand for living spaces within walking distance of work, shops and entertainment,” says Kettler chairman and CEO Robert C. Kettler. “The thought process around m.flats recognizes the fact that many young people are forming families later in life. As a result, they not only want to enjoy the vibrancy of city life, but live in an apartment that has many conveniences and amenities.”