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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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DC Investment Firm Adds to Silver Line Portfolio With $50.5 Million Purchase
Penzance has snapped up a mixed-use complex near the Innovation Center Metro station in Herndon, Virginia, as the rollout of the Silver Line Metrorail extension continues to draw new development interest.
The D.C.-based real estate investment company paid $50.5 million to BET Investments to buy The Mark at Dulles Station in an off-market deal, Penzance confirmed. BET, a commercial real estate owner, developer and manager led by Toll Brothers co-founder Bruce Toll, had owned the 169-unit apartment and retail building since 2014 after acquiring it for nearly $39.3 million.
Penzance had been targeting investments around the future Herndon station before heading one […]
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Best of NAIOP Northern Virginia 2019 Awards
“Focus on Excellence” was the theme of the Best of NAIOP Northern Virginia Awards held November 21, 2019 at The Ritz-Carlton, Tysons with over 840 people registered. Thirty-four awards were presented in the following categories: Interiors, Membership, Transactions and Buildings. The Awards Gala was an opportunity to celebrate significant new and renovated contributions to Northern Virginia by the commercial, industrial and mixed-use real estate community.
Awards were given in the following categories:
Buildings
Master Plan
Award of Excellence for The Highlands, submitted by Penzance and located in Rosslyn. NAIOP Members on the
team include: Hickok Cole Architects and The Whiting-Turner Contracting Company. […]
Company to invest $10 million, establish U.S. headquarters
RICHMOND—Governor Ralph Northam today announced that Block.one, a leader in providing high-performance blockchain software, will invest $10 million and establish its U.S. headquarters in Arlington County. Virginia successfully competed with Washington, D.C. for the project, which will create 170 new jobs over a period of three years.
“Block.one maintains a strong presence at its Blacksburg operation, and we are thrilled that this global company will expand its footprint in Virginia by locating its U.S. headquarters in Arlington County,” said Governor Northam. “Blockchain and other technologies are rapidly evolving, and industry pioneers like Block.one help to bolster the Commonwealth’s reputation as a leader in […]
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Penzance Secures Office Park Near Future Herndon, Virginia, Metrorail Station
DC Firm Buys Campus Down the Road From its Proposed Mixed-Use Project
Penzance is buying up property around the future Herndon, Virginia, Metrorail station, this time closing on a low-rise office park down the road from where the company received approval earlier this year to develop a mixed-use development.
The company paid $71.5 million for Spring Park, a campus comprised of 10 single-story office and flex buildings constructed in the mid-1980s near Dulles International Airport. Penzance negotiated the deal with RREEF Management, a real estate investment trust.
The complex sits off Fairfax County Parkway, minutes from 555 Herndon Parkway where Penzance, after […]
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