Penzance, a Mid-Atlantic developer and owner, has added another milestone to its ongoing transformation of the Rosslyn-Ballston Corridor in Virginia’s Arlington County. It has received county approval to redevelop Ballston One, converting the existing office building into a 328-unit multifamily community.
The seven-story building will feature a range of floor plans, from studios to two-bedrooms with dens as well as 13 two-story lofts. The developer has an emphasis on sustainability, with plans for an adaptive reuse of the existing underground parking to reduce environmental impact. It also is committed to LEED Gold certification, bird-friendly glass, dark-sky compliant lighting, and a green roof to exceed the county’s environmental and stormwater standards.
“Ballston One is a transformational project that is a continuation of Penzance’s strong history of community-forward work in Arlington County,” said Penzance partner John Kusturiss. “Our team is excited to reimagine this exceptionally located property in Ballston to deliver a best-in-class residential offering that improves connectivity, walkability, and quality of life for future residents and the neighborhood as a whole.”
Ballston One, located at the edge of Interstate 66 and adjacent to the revitalized Ballston Wetland Park, serves as a gateway to the neighborhood. It also is just 800 feet away from the future second entrance to the Ballston Metro Station.
The building will offer a host of amenities, including a landscaped courtyard with a pool, an outdoor kitchen, and lounge areas; a rooftop terrace with grills and social spaces; a fitness center; a yoga studio; a golf simulator; a coworking lounge; a makerspace; and 24/7 concierge service. According to Penzance, it provides approximately 80 square feet of amenity space per unit, which is more than double the industry standard. Adding to the sustainability features will be over 130 bicycle parking spots and 65 electrical-vehicle-ready parking spaces.
As part of the community benefits package, Penzance will contribute approximately $3.2 million toward affordable housing, adding to the county’s sustainable growth and equity efforts.
