$100 million development planned for Crystal City
A $100 million mixed-use development is being planned in the Crystal City part of Arlington County.
LCOR has purchased a 39,700-square-foot land parcel at 400 11th St. South from New York-based Verizon Communications. Financial terms of the transaction were not disclosed.
The real estate company is planning a mixed-use project that will feature retail and a high-rise tower with approximately 280 units. LCOR intends to break ground on the project in early 2020. The project aims to improve walkability in the surrounding area.
“As part of this project, we are working with Arlington County to identify potential opportunities for park space, which would enrich the entire neighborhood,” Josh White, vice president of development at LCOR, said in a statement.
The land is adjacent to Altaire, LCOR’s 451-unit building at 400 Army-Navy Drive in Crystal City. The new development aims to complement Altaire’s luxury residences by offering a range of efficient unit types at lower price points.
LCOR has offices in Bethesda, Md.; New York and Berwyn, Pa.