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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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Rosslyn’s Fire Station 10 Will Include A 26-Foot Fire Nozzle Sculpture
A 26-foot-tall sculpture of a fire nozzle is coming to the new location of Fire Station 10 as a tribute to Arlington firefighters.
The artwork is the result of a partnership between Arlington Public Art and Penzance, the developer behind the upcoming massive development in western Rosslyn dubbed “The Highlands.”
Set to open in 2021, The Highlands will be the future site of the new Fire Station 10. Currently, the station is temporarily located at 1791 N. Quinn Street.
“This is our first opportunity to integrate public art into a fire station, which is a recommendation in Arlington County’s Public Art Master Plan,” said Angela Adams, Director of […]
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Fresh look at condo tower coming to top of the Rosslyn hill
It was only a couple of years ago that Washington Business Journal employees were chasing cockroaches out of their Rosslyn office at 1555 Wilson Blvd. We’ve since moved. The antiquated, mid-rise office building is long demolished, and what Penzance is constructing in its place is a world away.
The D.C.-based developer this week released new images of Pierce, the 27-story condominium piece of The Highlands development coming to the top of the Rosslyn hill. The 104-unit Pierce, in addition to the 23-story, 331-unit Aubrey and 26-story, 449-unit Evo, both apartment towers, will have addresses on North Pierce […]
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Herndon just marked a milestone in the small town’s history
Herndon officials just approved the town’s first new mixed-use development near the future Herndon Metro station, a major step for growth along the path of the Silver Line’s expansion.
The Town Council voted unanimously last week to sign off on development plans for a 4.3-acre property at 555 Herndon Parkway. D.C. developer Penzance is looking to replace the current office building with two residential towers and one office building, all of which will include ground-floor retail.
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Unizo sells Capitol Hill office building for $24 million less than it paid for it
An affiliate of Unizo Holdings Co. Ltd. has sold a 12-story office building in Capitol Hill for $24.5 million less than it paid for the property less in 2016.
The Tokyo-based real estate investor sold 50 F St. NW Tuesday for $85 million to an affiliate of Penzance Cos., according to the D.C. Recorder of Deeds. Unizo bought the 266,907-square-foot building in fall 2016 for $109.5 million as part of a larger buying spree. The sales price amounts to roughly $318 a square foot.
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