LCOR Inc.'s planned redevelopment of a vacant Crystal City office building into a 450-unit twin tower has won the approval of the Arlington board.
The nearly 500,000-square-foot Altaire represents the Berwyn, Pennsylvania-based LCOR's vision to replace the so-called "Paperclip building" at 400 Army Navy Drive, a 230,000-square-foot office property in Crystal City, on its border with Pentagon City. LCOR acquired the property from Lerner Enterprises in late 2012 for $39 million. The 47-year-old building was vacated by its former federal occupants as a result of the Base Realignment and Closure process.
An evening, illustrative view of LCOR's The Altaire, what will replace the existing… more
The new development, designed by SK&I and located within a half mile of the Pentagon and Pentagon City Metro stations, will feature 453 multifamily units in two 20-story towers. One tower will contain 150 condominiums, the other 300 apartments. The project will include multiple lobbies, a large amenity space, pool and club room, one vehicle parking space per unit and 182 bicycle spaces.
LCOR expects to begin demolition in June, with noticeable activity picking up by September or October. Delivery is expected in the second quarter of 2018.
The site is bordered by Army Navy Drive, 11th Street South and South Eads Street. LCOR has agreed to set aside 15 of its units as affordable and to donate $1.1 million to Crystal City Open Space, $1 million to the Army Navy Drive Complete Streets project and $280,000 to upgrade traffic signals.
The Altaire was to be adjacent to a streetcar storage facility and a streetcar maintenance facility, until the Arlington board cancelled the Columbia Pike and Crystal City streetcar projects.
Michael Neibauer covers economic development, chambers of commerce, transportation and politics.