Thursday, December 1 2022

JBG SMITH, lead developer of Amazon’s massive HQ2 project at the National Landing site covering Arlington and Alexandria across the Potomac from DC, unveiled another mixed-use project in the area.

JBG, which has already opened two multi-family towers at National Landing this year, unveiled plans this week for a 36-acre project on a site near National Landing.

The project, which will encompass the existing RiverHouse apartment community of three buildings and 1,676 units, will fill the area’s parking lots with several new multi-family buildings that will have more than 1,600 apartments and condos.

Bradley Site Design, BCT Design Group, Hybrid Architecture and Torti Gallas + Partners, will design and deliver the new housing, which will include a 185-unit senior living community, 265 rental townhouses, three mid-rise apartment buildings totaling 1,000 units and a Condo Development of 164 units.

The townhouses will feature a mix of common and private outdoor spaces. The development will also include 30K SF of retail space and over seven acres of new public parks with 800 newly planted trees, a two-way protected bike path and several public art installations.

In June, JBG sold two DC-area assets for a combined total of $344 million.

The company sold its 12-acre PenPlace development site to Amazon for $198 million. The e-commerce retailer will use the site for the second phase of its HQ2. Arlington County (the City of Arlington is also a county) granted approval this year for the site to house 3.2 million square feet of office space, more than 100,000 square feet of space retail and 2.75 acres of public open space.

The PenPlace sale was used to facilitate a similar exchange for JBG SMITH’s purchase of The Batley, a 432-unit DC building that closed in 2021.

JBG also closed the sale of an 11-story trophy asset, located at 1900 N St. in DC’s central business district. The company sold the mixed-use office building to the German company Commerz Real, through its open-ended real estate fund Hausinvest. 1900 N St. consists of 261,000 square feet of office space and nearly 9,000,000 square feet of street-level retail space.

Delivered in 2019, the office building was a joint venture between JBG and the Canada Pension Plan Investment Board. JBG SMITH will continue to act as property manager and rental agent.

In January, JBG opened two multi-family towers at 2000 and 2001 South Bell St. in Arlington.

Located in the heart of National Landing, the two projects will include 775 apartments and approximately 27,000 square feet of retail space. The building at 2000 South Bell St. will be a modern 25-story glass tower featuring 355 multi-family units above 15,000 square feet of ground floor retail.

Located next door, 2001 South Bell St. is a 420-unit, 19-story tower with 10,000,000 square feet of street-level retail.

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