ARLINTON, VA-KSI begins its $30-million project to replace the abandoned Pentagon City Hospital building with a new, mid-rise apartment community. The Metropolitan at Arlington will comprise 190 luxury units in a predominantly commercial area of the city.

WASHINGTON, DC-Federal Home Loan Bank of Atlanta awards million-dollar grants to Washington, DC and area community groups for the rehabilitation of about 1,000 affordable income units. The grants are part of a special FHLBA program that will award $18.6 million to refurbish 3,600 units for very low- to moderate-income families in a number of states.

RALEIGH, NC-EYC Cos. gets $22 million from GMAC Commercial Mortgage Corporation to construct a 328-unit luxury apartment complex. The structure will have a convenient location just outside the region's popular Research Triangle Park.

BOWIE, MD-MIE Properties breaks ground on the first phase of a $60-million business park, beginning construction that will erect three office buildings. There will eventually be 14 buildings offering about 1 million sf of space.

WASHINGTON, DC-In its first study of apartment unit value over a 10-year period, the National Multi Housing Council reports that the nation's 16.1 million apartment units are worth $1.3 trillion. And the study finds that the value of the industry's stock has increased an average of 5.5% annually since 1990.

WASHINGTON, DC-In the beginning stages of a marketing campaign for a building that is to go up by 2003, John Akridge Companies has launched a new Web site to attract potential clients. The company has used Web sites as a marketing tool to tout other new buildings in the past, and expects the Web site to help fill the structure at 900 Seventh St. with tenants.

TOWSON, MD-Maryland commercial real estate firm KLNB, Inc. increases its business with NAI Direct and becomes NAI KLNB, Inc. The former NAI will now handle New Jersey-based NAI Direct's office and retail transactions in Washington, DC and parts of Virginia, as well as its retail business in the Baltimore area.

WASHINGTON, DC-Rockville, Maryland-based Human Genome Sciences, Inc. begins construction on a facility that will allow it to produce drugs for commercial use. The biotechnology firm's new 360,000-sf project will sit adjacent to the company's current production site.