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Deals & Dealmakers

ZOM LIVING SECURES $152 MILLION IN CONSTRUCTION FINANCING AND BREAKS GROUND ON LUXURY MIXED-USE COMMUNITY IN ARLINGTON, VIRGINIA

ZOM Living, one of the nation’s leading multifamily development firms, prepares to break ground on a luxury mixed-use development after securing $152 million in construction financing for this latest project in the thriving neighborhood of National Landing in Arlington, Virginia. The multifamily community, known as Hazel & Azure at National Landing, will consist of 491 apartment homes across two buildings and 6,800 square feet of ground-floor retail space in one of DC Metro area’s most popular and fastest growing neighborhoods. The JLL Capital Markets team of Jamie Leachman, Drake Greer and Emma Buch represented ZOM Living in obtaining the $152 million construction loan from the financial institutions PNC Bank, which served as the lead arranger, and U.S. Bank.

The 15- and 11-story towers, Hazel & Azure, are slated to break ground this April with an estimated completion in late 2024. The residential community will offer a variety of floor plans, including studios, one-, two- and three-bedroom units, and town homes – all ranging from 548 to 1,688 square feet. Residents will enjoy sophisticated amenities such as an e-lounge and concierge service in the lobby, a rooftop pool and outdoor deck and grilling area with an adjacent club room, fitness and wellness spa including a spin and yoga room, co-working spaces for residents working from home, a self-serve market, and an indoor green space for dogs.  Integrated into Azure’s lobby will be Verza Coffee and Cocktails, offering residents coffee and light food service throughout the day and craft cocktails in the evening. This unique amenity activates the lobby and provides residents the first service of this type in the National Landing area.

The mixed-use development will be prominently located less than one mile from Amazon’s HQ2 in Arlington and the $1 billion Virginia Tech Innovation Campus rising nearby. The surrounding area has over 14.8 million square feet of office space that is home to blue-chip companies and 3.8 million square feet of retail space within a two-mile radius.

“We are excited to commence construction on Hazel & Azure at National Landing, a development that will meet the rising demand for high-quality rental apartments in one of DC Metro’s most sought-after neighborhoods,” said Andrew J. Cretal, Senior Vice President for ZOM Living’s Mid-Atlantic Region. “With the area’s rapidly expanding employment base and vast retail offerings, the delivery of ZOM’s luxury apartment community will further bolster the premier live-work-play district of National Landing.”

ZOM Living has selected award winning bKL Architecture as the design firm and Balfour Beatty Construction as the project’s general contractor.

The spacious apartments will feature chef inspired kitchens, floor-to-ceiling windows with roller shades, wood plank flooring, walk-in closets, cabinet panel Bosch appliances, high-end kitchen and bathroom cabinetry, smart thermostats, electronic locks, private balconies or terraces in most units, and expansive views of the Potomac River and the DC skyline. In addition, the mixed-use development will feature retail space that will be home to restaurants and service-oriented retailers to serve both residents and the surrounding community.

Hazel & Azure will be situated with convenient pedestrian connectivity throughout National Landing, and easy access to the Metrorail system, The Pentagon, and Ronald Reagan Washington National Airport. Residents will also benefit from the open green spaces, parks, and biking and walking trails in the neighborhood such as Aquatic Park, Long Bridge Park, Metropolitan Park, Four Mile Run Trail and Mt. Vernon Trail. The property is also located near specialty grocery stores including Harris Teeter, Whole Foods and Giant.

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