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April 18, 2017

MFA and Jefferson to construct residential apartment building in Virginia, US

Professional services provider Mitsui Fudosan America (MFA) and Jefferson Apartment Group are set to build a new high-rise residential apartment building in Arlington, Virginia, US.

By Lopamudra Roy

Professional services provider Mitsui Fudosan America (MFA) and Jefferson Apartment Group are set to build a new high-rise residential apartment building in Arlington, Virginia, US. 

Jefferson Apartment Group is a full-service real estate firm that invests in multifamily and mixed-use real estate through acquisition, development, construction, and property management services. 

MFA chief executive officer John Westerfield said: “Our strategy has been to form relationships with local partners who share our long-term view and goal of developing best in class assets.

“We are delighted to be partnering with Jefferson Apartment Group.”

The 22-storey luxury residential building will be constructed at 4000 Fairfax Drive, on the corner of Fairfax Drive and North Quincy Street, in the heart of the Rosslyn-Ballston Corridor, Arlington.

"The new community will be an exciting development project that will meet the strong demand for housing, with close proximity to local jobs, recreation and entertainment in the Rosslyn-Ballston market."

Jefferson Apartment Group president Jim Butz said: “The new community will be an exciting development project that will meet the strong demand for housing, with close proximity to local jobs, recreation and entertainment in the Rosslyn-Ballston market.

“We think residents will be thrilled with the modern design of the apartments, the lifestyle and numerous amenities they offer. MFA’s goals and values align well with ours.”

To be developed as an urban infill apartment community, the building has received approval for up to 330 residential units and will feature 264 below-grade parking spaces and 8,260ft² of ground-floor retail.

The location provides easy access to the major office employment nodes of Ballston and Virginia Square, and also to the District of Columbia, Tysons Corner, and Reston submarkets, through the Washington Metro Silver Line and I-66.

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