Penzance Receives Approval for Ballston One Redevelopment in Arlington
Penzance has secured approval from Arlington County to move forward with the redevelopment of Ballston One, located at 4601 N. Fairfax Drive. The new plan will transform the existing office building into a vibrant residential community.
The approved redevelopment will feature 328 multifamily units within a seven-story structure. The mix will include studios, one- and two-bedroom units, as well as two-bedroom units with dens, and 13 two-story loft-style homes. A key component of the redevelopment is the adaptive reuse of the site’s existing underground parking garage.
“Ballston One is a transformational project that is a continuation of Penzance’s strong history of community-forward work in Arlington County,” said John Kusturiss, Partner at Penzance.
Strategically located at the edge of Route 66 and adjacent to the revitalized Ballston Wetland Park, the development will offer residents convenient access to nearby retail corridors and the future second entrance to the Ballston Metro Station, located just 800 feet away.
As part of its community benefits package, Penzance will contribute approximately $3.2 million toward affordable housing initiatives in the area.
