around arlington real estate update 3Q 2018

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1 around arlington real estate update 3Q Q 2018 YTD DEVELOPMENT SUMMARY $ Under Approved Construction Completed Office (SF) 7,169, , ,102 Retail (SF) 818, ,298 29,404 Residential (Units) 7,184 4, Hotels (Rooms) Approved (millions SF) Approved (SF) Approved (Units) 1,400 1,200 1, ,000, , , , , , , , , ,000-10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1, Office Approved Under Construction Completed 2009 Retail Approved Under Construction Completed Residential Approved Under Construction Completed Hotel ,600,000 1,400,000 1,200,000 1,000, , , , , , , , , , , ,000 50,000-4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, UC/Completed (SF) UC/Completed (SF) UC/COmpleted (Units) BUSINESS LICENSES Commercial Business Licenses Issued 3Q 2018 Certificate All Other Industries Construction Education and Health Services Financial and Real Estate Leisure and Hospitality Other Services Professional and Business Services Retail Trade CERTIFICATES OF OCCUPANCY Notable Certificates of Occupancy Issued 3Q 2018 Office SF Interstate Hotels and Resorts 25-50K Reservoir International 25-50K Deloitte Services 25-50K AHRI 25-50K Oxford Executive Suites 10-25K Kinetica 10-25K Amer. Assn. of Colleges of Pharmacy 10-25K Atlas Network 5-10K UVA Darden 5-10K Worldwide ERC 5-10K Federated Wireless 5-10K Infrastructure Association 5-10K Restaurants Darna <5K Le Kon <5K Federico Italian Ristorante <5K Gorilla Taco <5K Other Roots <5K Little Gym of Arlington <5K Jon David Salon <5K Miracles Salon <5K Anna s Salon & Spa <5K 37.9% 3.9% 9.3% Office 3.5% 311 TOTAL 10.3% 27.3% 6.4% 1.3% MARKET SNAPSHOT Reporting Period Rentable Building 3Q ,906,728 Area (RBA) Overall 3Q % Vacancy Rate 2Q % 1Q % 4Q % Absorption 3Q ,666 2Q ,048 1Q ,468 4Q ,801 Average Base 3Q 2018 $39.55 Rent/SF 2Q 2018 $ Q 2018 $ Q 2017 $38.38 Source: CoStar 10/23/ Approved Under Construction Completed 2018

2 TAKE NOTE ARLINGTON S FASTEST GROWING COMPANIES Arlington Economic Development (AED) takes pride in the success of our local businesses and wants to recognize those that leverage the benefits of being located in Arlington to grow their business. To accomplish this, AED is hosting its fourth annual Fast Four competition, honoring companies with the fastest level of growth year over year in four revenue categories. Arlington has proven to be a prime location for a diverse range of companies from tech startups to international corporations. A talented workforce, dynamic real estate options, innovative government and urban amenities are all assets that make Arlington unique and attractive as a place to do business. AED strives to recognize companies in a variety of industries and would welcome help spreading the word about the opportunity to apply. If you are an Arlington business that is experiencing growth year after year or you know of an Arlington business that fits this criteria, we welcome all applicants! Find out more information about this year s Fast Four competition and how to apply. The winner of the Fast Four competition will be announced at AED s Arlington Premiere event, a biannual event welcoming new businesses to the County. If you re interested in finding out who this year s Fast Four winners are or would like to network with businesses new to Arlington, as well as other key business and community leaders, we d love to have you at the Arlington Premiere. Interested in learning more about Arlington Economic Development s Fast Four awards? Feel free to reach out to Sindy Yeh, Business Development Manager for Arlington Economic Development. ECONOMIC INDICATORS AT-PLACE EMPLOYMENT At-Place Reporting Last Last Annual Employment* Period Current Period Year Change Employees 1Q , , , %p Establishments 1Q ,091 8,960 8, %p Gross Wages (weekly) 1Q 2018 $1,925 $1,641 $1, %p *data excludes enlisted military personnel Source: Virginia Employment Commission, Quarterly Census of Employment and Wages (QCEW) LABOR FORCE Civilian Reporting Last Last Annual Labor Force* Period Current Period Year Change Arlington County Aug , , , %p Northern Virginia Aug-18 1,634,585 1,665,714 1,623, %p Unemployment Rate Arlington County Aug % 1.9% 2.6% -0.5 ppq Northern Virginia Aug % 2.4% 3.3% -0.7 ppq pp = percentage points * readjusted monthly Source: Virginia Employment Commission, Local Area Unemployment Statistics (LAUS) HOUSING Reporting Year Last Year Annual Housing Period Current To Date To Date Change New Listings Sep ,312 3, %q New Pendings Sep ,522 2, %q Closed Sales Sep ,342 2, %q Source: Real Estate Business Intelligence HOUSING PRICES Average Housing Reporting Last Last Annual Prices Period Current Period Year Change Single Family Detached Sep-18 $994,767 $1,090,055 $989, % p Single Family Attached Sep-18 $647,533 $811,649 $696, % q Condominium Sep-18 $428,134 $412,080 $426, %p TOURISM Reporting Year Last Year Annual Tourism Period Current To Date To Date Change Hotel Occupancy Sep % 77.6% 79.5% -2.4%q Average Daily Room Rate Sep-18 $ $ $ %q Source: Smith Travel Research CONSUMER PRICE INDEX Consumer Price Index Reporting Last Last Annual (CPI-U All Items) Period Current Period Year Change Washington - Baltimore Nov %p DC/MD/VA/WVA Source: US Bureau of Labor Statistics RETAIL SALES Taxable Reporting Last Last Annual Retail Sales Period Current Period Year Change Arlington 2nd Q $867,585,708 $755,287,976 $860,321, %p Source: Virginia Department of Taxation AIR TRANSPORTATION Reagan Reporting Last Last Annual National Airport Period Current Period Year Change Total Aircraft Operations Jul-18 24,736 24,590 24, %p Total Passengers Jul-18 2,091,411 2,147,952 2,074, %p Source: Metropolitan Washington Airports Authority Green indicates positive change Red indicates negative change Blue indicates subjective change Christina M. Winn Director, Business Investment Group Arlington Economic Development Cwinn@arlingtonva.us Source: Real Estate Business Intelligence

3 development summary 3 rd Qtr rd QUARTER APPROVALS Central District Retail Phase I Central District Retail Phase II The following is a list of commercial, mixed-use and residential projects grouped as Under Construction, Projects of Interest (site plan approved but not yet under construction, site plan projects being reviewed by the County and sometimes including planned projects being considered but not yet submitted to the County for review) and Recently Completed Projects. Please contact Troy Palma at tpalma@arlingtonva.us with any updates or changes. This listing is arranged alphabetically by the following submarkets: BALLSTON CLARENDON COLUMBIA PIKE COURTHOUSE CRYSTAL CITY LEE HIGHWAY PENTAGON CITY ROSSLYN VIRGINIA SQUARE OTHER BALLSTON Under Construction BALLSTON QUARTER County Board Date: November 2015 Office SF: 14,838 Project Status: Under Construction Retail SF: 389,772 1 Developer: FC Ballston Common Residential Units: 406 Estimated Delivery: 4Q 2018 Hotel Rooms: - Three site plan amendments have been approved and construction is underway for the planned redevelopment of the Ballston Common shopping mall. Known collectively as Ballston Quarter, the plans include significant upgrades to the existing mall and an additional 11,854 square feet of new space, development of a 406-unit residential tower with more than 66,000 square feet of retail at the site of the Macy s Home Furniture Store and renovations to the office building above the Macy s Department Store. 1 Includes the addition of 66,475 sf of retail in the planned residential building (formerly the Macy s Furniture Store) and 323,397 sf for the mall renovation (311,443 sf existing and 11,854 sf new). 1

4 750 NORTH GLEBE ROAD THE WAYCROFT County Board Date: June 2016 Office SF: - Project Status: Under Construction Retail SF: 68,185 Developer: Saul Centers Residential Units: 483 Estimated Delivery: 1Q 2020 Hotel Rooms: - The Waycroft is being built on the former the Mazda site at 750 N. Glebe Rd. and the adjacent 730 N. Glebe Rd. into a 483-unit apartment building with 68,185 square feet of ground floor retail, including a new Target, Silver Diner and car rental business. Building heights will range from nine to 12 stories and 4040 FAIRFAX DRIVE CARPOOL and WEBB BUILDING County Board Date: December 2015 Office SF: - Project Status: Under Construction Retail SF: 8,400 Developer: Jefferson Apartment Group Residential Units: 330 Estimated Delivery: 3Q 2019 Hotel Rooms: - This redevelopment plan replaces the single-story building at 4000 Fairfax Dr. (former home of Carpool restaurant) with a 22-story LEED Gold apartment building with 330 units. The plan combines the Carpool site with the adjacent Webb (office) Building site at 4040 Fairfax Drive. The 10-story, 185,000-square foot Webb Building will remain for the near future WILSON BOULEVARD County Board Date: July 2016 Office SF: 419,830/191,300 Project Status: Under Construction Retail SF: 7,670/33,400 Developer: Shooshan Company Residential Units: 0/244 Estimated Delivery: 1Q 2020 Hotel Rooms: - The 20-story mixed-use building at the southwest corner of Wilson Blvd. and N. Quincy St. will be the fourth and final major building at Founder s Square. The project gained a Major Site Plan Amendment approval decreasing the office square footage from 419,830 square feet to 191,300 square feet, as well as increasing the retail square footage from 7,670 square feet to 33,400 square feet and adding 244 residential units. 2

5 Recently Completed 670 NORTH GLEBE ROAD 672 FLATS County Board Date: October 2015 Office SF: - Project Status: Completed Retail SF: 4,400 Developer: Penrose Group Residential Units: 178 Estimated Delivery: 3Q 2018 Hotel Rooms: Flats is a 178-unit residential building at 672 N. Glebe Rd. across the street from the Ballston Common Mall. The approximately 185,000 square foot project will consolidate multiple parcels currently used as a surface parking lot, a car sales lot and an Exxon station. The development includes 4,400 square feet of retail along N. Glebe Rd NORTH GLEBE ROAD MARYMOUNT UNIVERSITY County Board Date: January 2014 Office SF: 55,067 Project Status: Completed Retail SF: 3,000 Developer: Marymount / Shooshan Residential Units: 267 Estimated Delivery: 3Q 2017 Other SF: 109,981 Construction is complete on the former Blue Goose building site. The new nine-story building will have 109,981 square feet of educational space and 55,067 square feet of office space, accompanied by a 15-story residential building with 267 units. Projects of Interest BALLSTON STATION BALLSTON CENTRAL UNITED METHODIST CHURCH County Board Date: February 2017 Office SF: - Project Status: Approved Other SF: 23,499 Developer: Ballston Station Housing Corporation Residential Units: 119 Ballston Station Housing Corporation (Bozzuto Development Company and Monticello Partners), proposes redevelopment of a consolidated site (4201 and 4203 N. Fairfax Dr.) in two Phases. Phase I would include land east of a public alley, currently owned by Ballston Central United Methodist Church, while Phase II would consist of land west of the public alley owned by Monticello Partners. Phase I is the subject of the site plan application and proposes to redevelop the site of the existing Ballston Central United Methodist Church. Proposed development includes construction of an 8-story residential building that would incorporate a new church, with on-site childcare and a preschool on the first two floors (23,499 square feet). The housing component of the project would be mixed income with a total of 119 dwelling units of which 48 would be committed as affordable. A total of 131 parking spaces are proposed for the residential below grade. 3

6 11 th and VERMONT County Board Date: February 2018 Office SF: - Project Status: Approved Other SF: Developer: NVR, Inc. Residential Units: 85 Redevelopment of an existing two-story church and adjacent surface parking lot on a 55,667-square foot (1.28 acre) site consisting of two contiguous blocks with 12 townhouse units (north block) and 73 multifamily and townhouse units (south block). The site is located at 1031 N. Vermont St. The site abuts the Westview at Ballston Metro development to the south and east, the Vermont Court development to the north and the Victoria at Ballston development to the east. CLARENDON Recently Completed TH STREET NORTH 10 TH STREET FLATS County Board Date: July 2014 Office SF: 4,835 Project Status: Completed Retail SF: 3,660 Developer: Clark Realty Capital (CRC) Residential Units: 145 Estimated Delivery: 3Q 2017 Hotel Rooms: - CRC s project delivered 145 residential units and 3,660 square feet of ground floor retail along the south frontage of 10th Street N. in Clarendon. Projects of Interest CLARENDON WEST RED TOP CAB PROPERTIES County Board Date: October 2015 Office SF: - Project Status: Approved Retail SF: 3,477 Developer: Shooshan Company Residential Units: 580 The County Board approved the site plan to redevelop the Red Top Cab properties in Clarendon with three free standing multi-family residential buildings consisting of 580 dwelling units and up to 3,477 square feet of retail use. Building heights will range from 55 feet adjacent to 13th St. N. and will taper up in height away from existing single-family dwellings to a maximum height of 110 feet. 4

7 MARKET COMMON CLARENDON PHASE 2 County Board Date: January 2018 Office SF: - Project Status: Approved Retail SF: 27,040 Developer: Clarendon Regency Residential Units: - The applicant, Clarendon Regency IV, LLC, received approvals to rezone a portion of the property occupied by IOTA and the Engraver's Building from "C-2" to "C-O-1.5" to be incorporated into Site Plan #339 and amend Site Plan #339 to renovate an existing office building. The amendment includes the addition of a fourth floor, outdoor terraces, creation of a ground-level arcade along North Edgewood Street, and modification of building uses to allow retail in addition to office and streetscape improvements. The proposed development adds 27,040 square feet of GFA. The building would be LEED Gold Certification and historic façade preservation of the Engraver s Building is planned. The site is located at 2801 Clarendon Blvd. and generally bounded by Wilson Boulevard to the north, North Edgewood Street to the east, Clarendon Boulevard to the south and North Fillmore Street to the west. COLUMBIA PIKE Under Construction 4707 COLUMBIA PIKE County Board Date: Form Based Code Office SF: - Project Status: Under Construction Retail SF: 8,000 Developer: Pillars Development Group Residential Units: 78 Estimated Delivery: 4Q 2018 Hotel Rooms: Columbia Pike is a four-story mixed-use building on 38,000 square feet of land on the site currently occupied by El Tutumaso restaurant. The new building will include 8,000 square feet of ground floor retail, 78 residential units, 87 underground parking spaces and a 3,572-square foot private courtyard. CENTRO ARLINGTON County Board Date: Form Based Code Office SF: - Project Status: Under Construction Retail SF: 81,530 Developer: Orr Partners Residential Units: 365 Estimated Delivery: 2Q 2019 Hotel Rooms: - Centro Arlington is the redevelopment of the Food Star grocery store site at the corner of Columbia Pike and S. George Mason Drive. The Form Based Code development includes a mixed-use six-story apartment building with 365 marketrate units, more than 31,000 square feet of retail, underground parking, a new full-service grocery store and a public square at the prominent corner. 5

8 3507 COLUMBIA PIKE GILLIAM PLACE County Board Date: Form Based Code Office SF: - Project Status: Under Construction Retail SF: 8,900 Developer: APAH Residential Units: 173 Estimated Delivery: 3Q 2019 Hotel Rooms: - Gilliam Places is the redevelopment of the Arlington Presbyterian Church site on Columbia Pike into an affordable housing apartment complex. The mixed-use apartment complex will be developed in one phase as two separate projects. Gilliam Place East, with 83 units, and Gilliam Place West, with 90 units, will have a combined total of 173 committed affordable units. On the ground floor, approximately 8,900 square feet of retail/civic uses are planned, along with a three-level below-grade parking garage with 205 parking spaces. THE TROVE County Board Date: Form Based Code Office SF: - Project Status: Under Construction Retail SF: - Developer: WashREIT Wellington Apartments LLC Residential Units: 402 Estimated Delivery: 2Q 2020 Hotel Rooms: - Washington Real Estate Investment Trust (WashREIT) Wellington Apartments LLC, proposes to build three, six-story residential buildings totaling 402 (market-rate) multi-family dwelling units on approximately 152,368 square feet of land on the site currently occupied by the Wellington Apartments without removing any existing units. The new development will achieve LEED Silver energy efficiency and will additionally convert 105 of the existing units within the Wellington Apartment buildings to committed affordable units. Recently Completed 1010 SOUTH FREDERICK STREET COLUMBIA HILLS County Board Date: Form Based Code Office SF: - Project Status: Completed Retail SF: - Developer: Columbia Grove Apts Residential Units: 229 Estimated Delivery: 3Q 2018 Hotel Rooms: - Columbia Hills located at 1010 S. Frederick St. is an eight-story residential building with 229 multi-family dwelling units built on 52,796 square feet of land on the site occupied by Columbia Grove apartments without removing any existing units. The new development is Earthcraft Platinum energy efficiency while all 229 units are affordable. 6

9 Projects of Interest AXUMITE VILLAGE County Board Date: Form Based Code Office SF: - Project Status: Approved Retail SF: - Developer: ECDC Residential Units: 36 Axumite Village is a residential project overlaying three parcels along S. Highland St. between Columbia Pike and 12th St. S. The project will enable the extension of 11th St. beyond S. Highland St. where it is currently a dead-end. The project will have 36 units including studios, 1BR, 2BR and 3BR units COLUMBIA PIKE County Board Date: Form Based Code Office SF: - Project Status: Approved Retail SF: 12,997 Developer: Several Residential Units: 105 Four Mile Run Associates, L.C.; 2338 Columbia Pike Associates, LLC; and Testamentary Trust of Benjamin M. Smith, proposes to build a six-story mixed-use building on approximately 55,883 square feet of land on the site currently occupied by several retail businesses including the Rappahannock Coffee and a surface parking lot. The proposal would include approximately 105 new residential units, 12,997 square feet of ground floor retail and two levels of below-grade parking containing approximately 140 parking spaces. The development will also preserve the historic facades of the two existing buildings by incorporating them into the new building. COURTHOUSE Recently Completed 2311 WILSON BOULEVARD County Board Date: December 2012 Office SF: 150,002 Project Status: Completed Retail SF: 7,812 Developer: Carr Properties Residential Units: - Estimated Delivery: 2Q 2018 Hotel Rooms: - The new building at 2311 Wilson Bld., adjacent to Hyatt Place, offers 150,002 square feet of office, 7,812 square feet of retail and supporting spaces for conferences (5,600 square feet), childcare (7,000 square feet) and fitness (2,300 square feet). (Wilson Blvd. and N. Adams St.) 7

10 Under Construction 1307 NORTH ROLFE STREET GABLES NORTH ROLFE STREET County Board Date: February 2015 Office SF: - Project Status: Under Construction Retail SF: - Developer: LG Rolfe Street, LLC Residential Units: 409 Estimated Delivery: 2Q 2019 Hotel Rooms: - Construction is underway at the Gables N. Rolfe St. project site. When complete, the 2.17-acre site will have three buildings: two residential buildings (approximately 403,000 square feet) that will provide 409 housing units including a recently completed County transitional living facility with 14 housing units (approximately 16,500 square feet). The site plan calls for an approximately 8,000 square-foot park CLARENDON BOULEVARD County Board Date: June 2016 Office SF: - Project Status: Under Construction Retail SF: 1,921 Developer: Bush Construction Corp. Residential Units: 91 The applicant gained approval to rezone the 18,380 square-foot site located at 2000 Clarendon Blvd. from C-2 to C-O and from RA8-18 to RA4.8, demolish an existing office building and construct a 15-story residential building with 91 units, ground floor retail and 112 underground parking spaces. Projects of Interest 2025 WILSON BOULEVARD WENDY S/ WELLS FARGO County Board Date: March 2015 Office SF: 188,910 Project Status: Approved Retail SF: 6,960 Developer: Carr Properties Residential Units: - Plans to construct a nine-story commercial building comprised of 188,910 square feet office and 6,960 square feet of retail have been approved. The project will replace the now-demolished Wendy s restaurant and Wells Fargo Bank buildings. (Wilson Blvd. and N. Courthouse Rd.) 8

11 WAKEFIELD MANOR County Board Date: October 2011 Office SF: - Project Status: Approved Retail SF: - Developer: Kinney / Johnson Residential Units: 188 The County Board approved a site plan for the Wakefield Manor apartment complex in the Courthouse area. Incorporating historic preservation of 66 existing units, the project adds a 12-story, 104-unit building to the site at the corner of N. Courthouse Rd. and Fairfax Dr. The project is LEED-Silver. The existing buildings are rated Essential on the Arlington County Historic Resources Inventory. CRYSTAL CITY Under Construction BRITTANY EAST and BRITTANY WEST County Board Date: May 2007 / July 2015 Office SF: - Project Status: Under Construction Retail SF: 16,503 Developer: Archstone Residential Units: 360 / 331 Estimated Delivery: 4Q 2019 Hotel Rooms: - The eastern portion of Potomac Yard Land Bay D, Brittany East, began construction and will have 360 residential units and 16,503 square feet of retail space. In the western portion of Land Bay D, the County Board approved a Phased Development Site Plan (PDSP) and site plan amendment to change 13,053 square feet of planned residential and 10,853 square feet of planned retail for use as religious institution space. Recently Completed 400 ARMY NAVY DRIVE THE ALTAIRE County Board Date: June 2014 Office SF: - Project Status: Completed Retail SF: - Developer: LCOR Residential Units: 453 Estimated Delivery: 3Q 2018 Hotel Rooms: - The Altaire is a 20-story, multi-family residential building with a common podium and two towers containing 453 residential units. Delivery of the residential project is expected in

12 Projects of Interest NEW CENTURY CENTER RESIDENTIAL BUILDING County Board Date: July 2017 Office SF: - Project Status: Approved Retail SF: 21,836 Developer: Commonwealth Crystal Holding I, Inc. Residential Units: 287 Commonwealth Crystal Holding I, Inc. received approval for rezoning and a new residential building on a two-acre site at 2351 Jefferson Davis Highway. The proposed building would be built on top of the existing one-story retail space and the developer states that the existing retail tenants at the site will remain. NATIONAL GATEWAY County Board Date: December 2007 Office SF: 1,064,298 Project Status: Approved Retail SF: 41,325 Developer: Meridian Group Residential Units: - National Gateway is approved for 1,064,298 office square feet and 41,325 retail square feet in Potomac Yard Land Bay C. Four office buildings will be developed with a 1.6-acre urban park. A total of 1,700 parking spaces will be provided SOUTH EADS STREET CRYSTAL HOUSES III County Board Date: November 2017 Office SF: - Project Status: Approved Retail SF: - Developer: Crystal Houses Apartment Investors, LLC Residential Units: 252 Approvals were gained to construct a new 5-story, 252-unit apartment building on an existing surface parking lot, including 498 underground parking spaces. 252 spaces will be allocated to the tenants of the new building, and the remainder are to replace the existing surface parking lot. In addition, the developer proposes to dedicate approximately 31,000 sq. ft. as a public park. No rezoning or land use plan change is requested. 10

13 CENTRAL DISTRICT RETAIL PHASE I County Board Date: October 2018 Office SF: - Project Status: Approved Retail SF: 74,000 Developer: JBG Smith Residential Units: - Approximately 74,000 sq. ft. of new street-fronting retail space including a movie theater and potential grocery store. The block is bounded by 15th Street South, Crystal Drive, 18th Street South and Jefferson Davis Highway. The proposed new theater and grocery store will front on Crystal Drive. CENTRAL DISTRICT RETAIL PHASE II County Board Date: October 2018 Office SF: - Project Status: Approved Retail SF: 16,000 Developer: JBG Smith Residential Units: - Site plan amendment to existing Crystal Square (SP #90) to construct a two-story, 16,000 sq. ft. retail building at the corner of 18th Street and Crystal Drive and dedicate to the County a public access easement of approximately 43,000 sq. ft. for public open space; and request for a minor site plan amendment to renovate the existing 1750 Crystal Drive office building. Applicant will not pursue at this time approval of the previously proposed: 1) Rezoning from "C-O" to "C-O- Crystal City"; 2) Crystal City Block Plan (Block Plan is required only when there is a rezoning to "C-O-Crystal City"; and 3) new site plan to convert a twelve-story office building (1750 Crystal Drive) to residential (total 21 stories, 257 feet in height, 16,403 sq. ft. residential, 4.56 FAR). LEE HIGHWAY Projects of Interest 6711 LEE HIGHWAY County Board Date: November 2017 Office SF: - Project Status: Approved Retail SF: - Developer: NVR Inc. Residential Units: 27 The applicant, NVR Inc., received approval to construct 27 townhouses on the site of the three-story SunTrust Bank building and its surface parking lot. The 73,730-sq. ft. (1.69 acres) site is located at 6711 Lee Highway, in the Arlington- East Falls Church neighborhood at the northwest corner of Lee Highway and North Underwood Street. It is bounded on the north by Charles A. Stewart Park and on the west by the Fenwick Court townhouse development. 11

14 PENTAGON CITY Under Construction PENTAGON CENTRE (PHASE IA) County Board Date: July 2008 / Sept 2015 Office SF: - Project Status: Under Construction Retail SF: 10,739 Developer: Kimco Realty Corp. Residential Units: 440 Estimated Delivery: 2Q 2019 Hotel Rooms: - The County Board approved amendments to the Kimco Reality s previously approved site plan of the 17-arce site that is currently home to Costco and other big box stores. Changes include a reordering of the Phased Development Site Plan (PDSD) to allow the residential units to be built in Phase 1 and the office, hotel and nearly three acres of open space to be built in Phase 2 and 3. A 426-space above ground parking garage with 8,900 square feet of retail was delivered in 4Q (12th St. S., S. Fern St., 15th St. S. and S. Hayes St.) and the first residential phase of 440 units is under construction (1201 S. Hayes St.) Projects of Interest METROPOLITAN PARK PHASE 6 County Board Date: July 2016 Office SF: - Project Status: Approved Retail SF: 10,178 Developer: JBG Smith Residential Units: 568 Vornado proposes to redevelop the Pentagon Industrial Center warehouse and adjacent parcels on a 122,368-square foot (2.81 acre) site with a 22-story building consisting of 568 dwelling units and 10,178 square feet of retail. PEN PLACE (PHASED DEVELOPMENT SITE PLAN) County Board Date: September 2013 Office SF: 1,809,000 Project Status: Approved PDSP Retail SF: 50,000 Developer: JBG Smith Residential Units: - Estimated Delivery: - Hotel Rooms: 300 The County Board approved a phased development site plan (PDSP) for the 10-acre parcel on the north side of Pentagon City abutting Army Navy Dr. and the existing Marriott Residence Inn. Plans include a total of four office buildings, two of which would be secure to Dept. of Defense standards, and a hotel building with conference space. The planned heights range from 12 to 22 stories. (Army Navy Dr., S. Eads St., 18th St. S. and S. Fern St.) 12

15 PEN PLACE PHASE I County Board Date: TBD Office SF: - Project Status: Preliminary Retail SF: 39,145 Developer: JBG Smith Residential Units: 342 The applicant, JBG Smith, proposes to develop an undeveloped tract of land on a 6.4-acre site of the larger approved PenPlace PDSP. The site is located at 525 & th Street S., the southernmost portion of the 9.2-acre PenPlace PDSP site. The proposal includes two seven-story buildings containing 342 residential units total, and approximately 40,000 sq. ft. of retail gross floor area. The development will require amendments to approved PenPlace PDSP conditions. PENTAGON CENTRE (PHASE IB) County Board Date: July 2008 / Sept 2015 Office SF: - Project Status: Approved Retail SF: 15,541 Developer: Kimco Realty Corp. Residential Units: 253 The County Board approved amendments to the Kimco Reality s previously approved site plan of the 17-arce site that is currently home to Costco and other big box stores. Changes include a reordering of the Phased Development Site Plan (PDSP) to allow the residential units to be built in Phase 1 and the office, hotel and nearly three acres of open space to be built in Phase 2 and 3. In addition, the approved plan for Phase 1 calls for a total of 693 residential units proposed in two buildings and 36,100 square feet of ground floor retail. A 426-space above ground parking garage with 8,900 square feet of retail was delivered in 4Q (12th St. S., S. Fern St., 15th St. S. and S. Hayes St.) and the first residential phase of 440 units is under construction (1201 S. Hayes St.) PENTAGON CENTRE (PHASE II AND III) County Board Date: July 2008 / Sept 2015 Office SF: 705,700 Project Status: Approved Retail SF: 310,500 Developer: Kimco Realty Corp. Residential Units: - Estimated Delivery: - Hotel Rooms: 200 The County Board approved amendments to the Kimco Reality s previously approved site plan of the 17-arce site that is currently home to Costco and other big box stores. Changes include a reordering of the Phased Development Site Plan (PDSD) to allow the residential units to be built in Phase 1 and the office, hotel and nearly three acres of open space to be built in Phase 2 and 3. A 426-space above ground parking garage with 8,900 square feet of retail was delivered in 4Q (12th St. S., S. Fern St., 15th St. S. and S. Hayes St.) and the first residential phase of 440 units is under construction (1201 S. Hayes St.) 13

16 ROSSLYN Recently Completed CENTRAL PLACE TOWER County Board Date: May 2007 Office SF: 570,549 Project Status: Completed Retail SF: 11,000 Developer: JBG Residential Units: - Estimated Delivery: 1Q 2018 Hotel Rooms: - Central Place Tower is 31 stories and offers a total of 570,549 office square feet. The building has 10.0 FAR with a height of approximately 390 feet, a 9,555-square foot observation deck on top, and rated LEED Silver. (N. Lynn St., N. Moore St., 19th St. N. and Wilson Blvd.) HILTON HOMEWOOD SUITES County Board Date: June 2013 Office SF: - Project Status: Completed Retail SF: - Developer: B.F. Saul Residential Units: - Estimated Delivery: 1Q 2018 Hotel Rooms: 168 A 168-room Hilton Homewood Suites extended-stay hotel at 1700 Lee Highway between Rosslyn and Interstate 66. The building is eight stories plus two levels of above-grade parking. The developer is seeking a LEED-Gold certification for this project. (Lee Highway, N. Quinn St. and N. Scott St.) KEY & NASH County Board Date: January 2015 Office SF: - Project Status: Completed Retail SF: - Developer: Insight Property Group Residential Units: 63 Estimated Delivery: 2Q 2018 Hotel Rooms: - Key & Nash is a new six-story, 63-unit multifamily building at the northwest corner of Key Boulevard and North Nash Street in Rosslyn. Six of the units will be townhomes in a traditional row house style. Four two-bedroom units will be committed affordable contractually obligated to remain affordable in perpetuity. 14

17 Projects of Interest ROSSLYN GATEWAY County Board Date: July 2012 Office SF: 490,056 Project Status: Approved Retail SF: 26,376 Developer: JBG Residential Units: 273 Estimated Delivery: - Hotel Rooms: 148 JBG plans to demolish Rosslyn Gateway South (1901 N. Fort Myer Dr.) and an adjacent parking garage in order to construct a new 25-story office building and a 25-story hotel/residential building. Rosslyn Gateway North (1911 N. Fort Myer Dr.) will remain. The new office building will have 490,056 office square feet and 8,688 retail square feet. The residential/hotel building will have 148 hotel rooms and 133 residential units and 10,001 retail square feet. The office building will be LEED Platinum and the hotel/residential building will be LEED Silver. (Lee Hwy., N. Moore St., 19th St. N. and Fort Myer Dr.). JBG has longer-term plans to add another residential building with 140 units and 7,687 retail square feet. ROSSLYN PLAZA County Board Date: March 2016 Office SF: 1,810,173 Project Status: Approved Retail SF: 45,000 Developer: Vornado / Gould Residential Units: 550 Estimated Delivery: - Hotel Rooms: 200 The Arlington County Board approved a plan to redevelop a 7.65-acre superblock located along the eastern boundary of Rosslyn s core into three new blocks with a total of up to 2.5 million square feet of offices, residences, retail, a hotel and public open space. The redevelopment, a joint project of Vornado/Charles E. Smith and Gould Property Company, will occur in five phases over the next 25 years. When built out, Rosslyn Plaza will be the largest single redevelopment in Rosslyn. It will offer five new buildings; major public street improvements including two new streets; portions of a planned, vehicle-free Esplanade that will front 1-66, and a new public park WILSON BOULEVARD and 1400 KEY BOULEVARD County Board Date: April 2014 Office SF: 513,004 Project Status: Approved Retail SF: 55,540 Developer: Monday Properties Residential Units: 274 Approvals were granted for a 513,004 square-foot office building and a 274-unit residential building with a grocery store in the ground floor. The buildings will stand 29 and 32 stories respectively, in the block bounded by Oak St. and Nash St. (to the north and south) and Key Blvd. and Wilson Blvd. (to the east and west). The project will have a LEED-Silver rating for the residential building and a LEED-Platinum rating for the office building. 15

18 1555 WILSON BOULEVARD THE HIGHLANDS County Board Date: February 2017 Office SF: - Project Status: Approved Retail SF: 25,200 Developer: West Rosslyn Development Company, LLC (Penzance) Residential Units: 892 West Rosslyn Development Company, LLC (Penzance) gained approval to redevelop the site of an existing commercial office building at 1555 Wilson Blvd. and Fire Station No. 10 and Rosslyn Highlands Park located at 1559 Wilson Blvd. The development includes both land owned by the Applicant (1555 Wilson Blvd.) and land owned by Arlington County. Under ground lease to the Applicant and specific terms of a Development Agreement with the County, the Applicant would incorporate into its development of the subject site, construction of a new fire station and public park. The development includes two new multiple family buildings (27 and 23 stories) with ground floor retail and Fire Station 10. The buildings would be bisected by an extension of North Pierce Street through the site and frame the new Rosslyn Highlands Park. There will be a total of 1,050 below grade parking spaces NORTH QUINN STREET QUEEN S COURT APARTMENTS County Board Date: February 2017 Office SF: - Project Status: Approved Retail SF: - Developer: Queen s Court Development Corporation (APAH) Residential Units: 249 The County Board approved the redevelopment of the existing Queen s Court Apartments, located at 1801 N. Quinn St. in the Western Rosslyn Coordinated Redevelopment District. The proposed development includes a 12-story apartment building containing 249 Committed Affordable (CAF) dwelling units, 175 below-grade parking spaces and dedication of a 9,000 square foot site for the northern leg of Rosslyn Highlands Park ARLINGTON BOULEVARD BEST WESTERN SITE County Board Date: TBD Office SF: - Project Status: Preliminary Retail SF: - Developer: Gran Investment Properties, LLC Residential Units: 64 Estimated Delivery: - Hotel Rooms: 160 Grant Investment Properties, LLC, proposes redevelopment of an existing hotel site with a 12-story hotel building, an adjacent garden apartment site with a 10-story residential building and an above-grade parking structure. 16

19 VIRGINIA SQUARE Projects of Interest 3901 FAIRFAX DRIVE County Board Date: January 2012 Office SF: 178,131 Project Status: Approved Retail SF: 3,200 Developer: Crimson Partners Residential Units: - Crimson Partners has County Board approval to build a mixed-use project with 178,131 square feet of office space and 3,200 of retail space, plus space for a plaza and a theater. (N. Quincy St. at Fairfax Dr.) 3445 WASHINGTON BLVD. AMERICAN LEGION/APAH County Board Date: - Office SF: - Project Status: Preliminary Retail SF: - Developer: APAH Residential Units: 160 Arlington Partnership for Affordable Housing (APAH) and the American Legion propose a new 7-story, 160-unit multifamily building with 96 underground parking spaces. A new American Legion Hall will be located on the ground floor. Bonus density is requested for the provision of on-site affordable housing. A modification to the parking regulations is requested. OTHER Under Construction THE BERKELEY County Board Date: May 2016 Office SF: - Project Status: Under Construction Retail SF: - Developer: AHC, Inc. Residential Units: 257 Estimated Delivery: 1Q 2020 Hotel Rooms: - The applicant, AHC Inc., is constructing two five-story apartment buildings at 2900 & 2910 S. Glebe Road. The project demolishes and replaces the two existing four-story apartment buildings (built in 1961). The existing buildings provide 137 dwelling units, 110 of which are committed affordable housing units. The two apartment buildings would provide 257 units and 241 parking spaces. The proposed project would offer 155 affordable units to households earning less than 60% of the area median income. 17

20 Projects of Interest 4333 ARLINGTON BOULEVARD RED CROSS/TRENTON STREET RESIDENTIAL County Board Date: April 2018 Office SF: - Project Status: Approved Retail SF: - Developer: Wesley Housing Development Residential Units: 131 The applicant, Wesley Housing Development Corporation, gained approvals to rezone portions of the property and construct a new multifamily residential building with 112 units and two rows of townhouses totaling 19 units. The site area includes the existing 63-unit Whitefield Commons buildings, which will remain. Proposed parking includes 102 structured parking spaces in the multifamily residential building and a net increase of five on-site surface parking spaces for Whitefield Commons residents and townhouse visitor parking. The acre site is located at 4333 Arlington Blvd. between North Trenton Street and North Thomas Street, in the Buckingham neighborhood. 18