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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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Vida Fitness Signs On For 27K SF At Penzance’s Rosslyn Development
Penzance celebrated the groundbreaking Wednesday of its three-building, mixed-use development in Western Rosslyn and announced its anchor retail tenant.
Vida Fitness signed a 15-year lease for 27K SF of the development’s ground-floor retail space at the 1555 Wilson Blvd. project, a Penzance spokesperson said. Vida Fitness founder David Von Storch was on hand at the groundbreaking to celebrate with the development team.
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John Kusturiss of DC’s Penzance Takes CO to The Highlands
Washington, D.C.-based developer Penzance is off to the races with its 1.2-million-square-foot mixed-use development in West Rosslyn, Va., now named The Highlands. In September, the firm closed a $380 million construction loan with Mack Real Estate Credit Strategies for the three-tower luxury project—located just across…
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Penzance Closes Its First Private Equity Fund With $255M Raised
Penzance, a D.C.-based developer embarking on a three-building Rosslyn mixed-use development, has just raised over a quarter of a billion dollars to invest in that project and others.
The development and management firm announced Wednesday it closed on its first real estate private equity fund in its 22-year history with $255M in total investment.
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Rosslyn development The Highlands breaks ground
Developer Penzance will officially break ground Oct. 24 on the latest big development in Rosslyn, one that will add three new residential towers to the skyline.
The development will be called The Highlands, a nod to its geographic location at the top of the hill at 1555 Wilson Blvd., near the newly redeveloped Rosslyn Highlands Park.
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