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Virginia Business // July 15, 2019//
Bethesda, Maryland-based Washington Property Co. (WPC) plans to develop about 700 apartments in Tysons.
WPC plans to build on a 5.2-acre parcel of land bought from an unnamed private equity firm, which was represented by John Sheridan of CBRE Group Inc. The sales price was not disclosed.
The parcel, located on the southwest corner of Westpark and Westbranch drives, is part of the 19-acre Arbor Row neighborhood in which mixed-use development is replacing 1970s-era office buildings.
Arbor Row is expected to soon have more than 3,000 residences and more than 40,000 square feet of shops and restaurants.
WPC expects to break ground in 12 to 24 months on twin mid-rise apartment buildings, with a total of approximately 8,000 square feet of street-level retail space.
The apartments will carry WPC’s Solaire brand.
The Tysons development will be WPC’s sixth Solaire-branded community and its first in Virginia.
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