Real Estate Weekly
Image default
Deals & Dealmakers

Construction Underway on 1031 N. Vermont Street

A year after acquiring a parcel at the intersection of N. Vermont and 11th Streets in Arlington, Virginia, Jefferson Apartment Group and its partner STARS REI have started construction on a luxury boutique apartment mid-rise four blocks from the Ballston-Marymount University Metro station.

This new development at 1031 N. Vermont Street will offer 98 multifamily units in a new seven- story building in Arlington’s vibrant Ballston neighborhood, walkable to ample shopping, dining, entertainment, and services. Also known as Arlington’s hub for science and technology, Ballston is home to a high concentration of scientific research agencies and employers.

“Ballston is a sought-after destination in the highly desirable Rosslyn-Ballston Corridor,” said Greg Van Wie, Senior Vice President and Development Partner at Jefferson Apartment Group, a leading multifamily developer and operator specializing in premier multifamily on the East Coast. “Following our recent success delivering our J Sol high-rise in 2020, we are excited to bring another new project to Ballston that will also reflect a similar high-end sophistication but in a boutique building that blends within the established area and still offers all the advantages of a transit-oriented district.”

A mix of one-, two- and three-bedroom units will feature luxe finishes, including quartz countertops, tile backsplashes, stainless steel appliances, sleek plank flooring, and upgraded fixtures throughout. Many units will feature private terraces and spacious balconies. Lifestyle amenities will include a resident lounge and rooftop terrace, as well as controlled-access below- grade parking with 120 spaces, 40 bicycle spaces and resident storage.

This is JAG’s second project with STARS REI, as the two companies also partnered together on J Linea, a mid-rise in the Shaw neighborhood of Washington, D.C.

“This is an impressive development in a fantastic location on the Metro’s Orange Line, convenient to popular restaurants and retail,” said Joaquin Canessa, Vice President at STARS REI, a privately held real estate investment management company headquartered in Santiago, Chile. “We are very pleased to partner with JAG again on another high-quality project.”

This new development at 1031 N. Vermont Street was designed by Arlington’s KGD Architecture, and Donohoe Construction Company serves as general contractor. Financing is provided by United Bank.

Construction is expected to be completed early 2024.

(Visited 1 times, 1 visits today)

Related posts

DivcoWest completes purchase of 550 Terry Francois Boulevard in San Francisco’s Mission Bay Life Science Cluster 

REW

Clayton, Dubilier & Rice Expands to 70,000 Square Feet and Extends Term at RFR’s Seagram Building

REW

Jefferson Apartment Group Closes on Debut Deal in Charlotte, North Carolina

REW