Riverhouse rendering. Photo by JBG Smith.
CHEVY CHASE, MD—Locally-based REIT JBG Smith has submitted plans to Arlington County for additional housing at its RiverHouse residential community located along the western edge of National Landing.
RiverHouse is a 36-acre development bounded by Army Navy Drive, South Joyce Street and South Lynn Street. It currently consists of approximately 1,670 apartment units in three high-rise rental towers built in the late 1950s and early 1960s. Under JBG SMITH's plan, the buildings will continue to operate, augmented by new construction.
Namely, JBG Smith wants to build nearly 1,000 additional housing units spread across traditional townhome units, two-over-two townhouse units, and two six-story multifamily buildings. Under the new plan, approximately 26% of the new units will be for-sale housing.
JBG Smith notes that the construction is consistent with the Crystal City/Pentagon City Sector Plan which calls for 7,500 additional housing units by 2040.
The townhomes will be developed on a series of under-utilized surface parking lots spread across the south and southwest portions of the site.
The two six-story buildings will be built to the north of the townhomes between the existing 16-story James House and Potomac House rental buildings. These buildings will incorporate approximately 750 rental apartments, ranging from studios to three-bedroom units. JBG Smith is also proposing central courtyards within each building and 30,000 square feet of community-oriented street-level retail, including a potential daycare center and medical office, at the base of the two new buildings.
The goal, of course, is the meet the expected demand for housing that will result from Amazon's second headquarters at National Landing, says Andy Van Horn, EVP at the REIT.
Construction is expected to begin in late 2020, subject to plan approval from Arlington County.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
