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Latest NewsPenzance Looks To Add 3 Residential Towers To Rosslyn Skyline
The D.C.-based developer is planning to construct 900K SF across three towers on the site of Rosslyn Gateway. It has filed site plans with Arlington County for the project, branded as One Rosslyn, the company announced in a press release Tuesday.
“This is a very special site,” Penzance partner John Kusturiss told Bisnow, adding that his company has been “keeping an eye on” it since it was entitled for redevelopment more than a decade ago.
Penzance is partnering with Boston-based The Baupost Group on the project, which is being designed by Hickok Cole and Studios Architecture.
The towers are planned to total 862 units and 15K SF of retail, a Penzance spokesperson told Bisnow. There are two rental towers planned, one with 461 units and the other with 319, and one condo building with 82 units.
“There is definitely a shortage of housing in the region, in Arlington and specifically in Rosslyn,” Kusturiss said. “The Rosslyn sector plan calls for more housing, and we think this is just a phenomenal location for more multifamily housing. So we’re bringing forward three residential towers that will be a mix of unit sizes and price points and ownership […]
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New Details Emerge for West Rosslyn Redevelopment Project
Work is kicking off on a massive new development in West Rosslyn, and its developer is offering a first look at its plans to build three new residential towers, a new fire station and an improved Rosslyn Highlands Park.
The D.C. developer Penzance announced today (Monday) that it would be dubbing the project “The Highlands,” which will be located at 1555 Wilson Blvd.
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Check out new renderings of Penzance’s western Rosslyn development
We have new details about Penzance Cos.’ first-ever ground-up multifamily residential project as the D.C. company prepares to break ground on its 1.2 million-square-foot mixed-use development in western Rosslyn.
John Kusturiss, vice president of development for Penzance, told me the company is naming the project at 1555 Wilson Blvd. The Highlands for its elevated geographical location adjacent to Rosslyn Highlands Park.
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Mack Real Estate Provides $380M Construction Loan for Virginia Mixed-Use Project
Washington, D.C.-based developer Penzance has landed a $379.5 million construction loan from Mack Real Estate Credit Strategies for West Rosslyn—its 1.2-million-square-foot mixed-use development in Rosslyn, Va., Commercial Observer has learned.
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Penzance Gets Financing, Begins Work On 900-Unit West Rosslyn Development
A new development is moving forward that will add nearly 900 multifamily units to western Rosslyn.
Penzance has secured a $290M loan and begun site work on its 1555 Wilson Blvd. project that will include apartments, condos, retail and a new fire station, the Washington Business Journal reports.
The developer received Arlington County approval for the project in February 2017.
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