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CBG Building Company’s Work at 672 Flats Continues to Advance

Podium Completion Achieved Ahead of Schedule
June 19, 2017

ARLINGTON, Va.—CBG Building Company completed podium concrete work today on 672 Flats, a five-story luxury apartment project in the Ballston neighborhood of Arlington, Virginia. The mixed-use community will feature ground floor retail and two levels of underground parking. CBG completed the podium several weeks early, allowing other project trades to begin work ahead of schedule.

CBG Building Company’s Work at 672 Flats Continues to Advance Press Release Image

672 Flats

"Penrose has enjoyed a successful history with CBG," said Mark W. Gregg, founder, managing partner, and president of Penrose Group. "Projects like Ovation at Park Crest in Tysons Corner and Latitude in Ballston have shown us time and again that CBG can bring a project in on schedule and on budget."

Resident amenities at 672 Flats will include a fitness facility, game room, party room, leasing office, and bicycle storage. The community, which is scheduled for completion in the spring of 2018, is located within walking distance of many restaurants, Harris Teeter, the Ballston Mall, and the Ballston Metro station.

"We are proud to complete this crucial step ahead of schedule for our third project with The Penrose Group," said Keith Anderson, president of CBG. "We are excited for what 672 Flats will offer the Rosslyn-Ballston corridor."

672 Flats is targeting LEED Silver certification. To achieve this, CBG will divert 63 percent of waste from landfills to recycling facilities during construction in the tight site. 672 Flats will also offer EnergyStar appliances in all 173 units and will feature an extensive green roof.

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About CBG Building Company

Through a relentless pursuit of innovation, a steadfast commitment to quality, and active collaboration with clients, CBG has been delivering award-winning communities from coast to coast for more than 25 years. CBG's professional construction team builds more than 4,000 homes each year, providing high-quality, responsive service backed by a significant bonding capacity and national resources. CBG's experience spans a diverse portfolio of geographic areas and product types, including luxury, mixed-use, and affordable housing apartments, as well as campus housing, military family communities, and senior living facilities. Together, we draw on the knowledge gained through building more than 80,000 housing units since 1992. For more information, visit www.cbgbuildingcompany.com.

About The Penrose Group

The Penrose Group consists of a family of companies that engage in real estate development and provide strategic property management services. During its 20+ years in business, the company has amassed an impressive portfolio that has included apartments, master-planned communities, commercial offices, and industrial and mixed-use developments. Under the direction of founder Mark W. Gregg, The Penrose Group has focused on land acquisition and development in Washington, D.C. and surrounding areas. For more information, visit www.penrosegroup.com.