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Clark Realty Capital Nears Groundbreaking for Unique Arlington Community

August 10, 2001

ARLINGTON, Va.—Clark Realty Capital (CRC)*, a national real estate firm headquartered in Bethesda, Md., is nearing groundbreaking for The Clarendon, its latest residential development in the Washington, D.C., metropolitan area. Directly across from the Clarendon Metro Station on Wilson Boulevard, the 293-unit project will be constructed to span 12th Street with a three-story arch. The new apartment complex offers a modern community lifestyle in a uniquely designed development.

Clark Realty Capital Nears Groundbreaking for Unique Arlington Community Press Release Image

The Clarendon

DESIGNED WITH NEIGHBORS IN MIND The Arlington project site was formerly three separate properties that Clark Realty Capital assembled and successfully rezoned for multifamily residential use. CRC worked closely with local citizens and homeowner's groups to achieve a project design that met both the practical and aesthetic standards of the community.

Clark Realty Capital's development plan also provides for certain street improvements and landscaping upgrades to enhance the surrounding neighborhood.

"The Arlington County planning process was truly a collaborative effort," said Christopher Guidi, Clark Realty Capital Development Executive. "After dozens of meetings with multiple citizen and business groups, we arrived at a design which adds to the eclectic feel of downtown Clarendon while simultaneously transitioning to a more traditional, townhouse style that blends with the single-family neighborhood of Lyon Village."

SUPPORTED BY THE COMMUNITY Mark Messing, a Lyon Village resident, was one of many community members supporting the project at the Arlington County Board Meeting.

"The architect and developer have very fairly...[represented] the views that we as Lyon Village people expressed to them," Messing said. "They have been extremely responsive to our suggestions, [and] we think the changes that have been made are in the spirit of the sector plan. I think they have done an excellent job...developing creative solutions to difficult problems."

Martha Moore, former president of the Lyon Village Civic Association, said that the community supported the development because it has "excellent architecture, which is one of our main goals. In addition, it has the elements that will help make a good transition into our neighborhood."

Current Lyon Village Civic Association President Bill Gearhart, agreed. "We've had a developer that has been willing to work with us, to add a lot of embellishments to the project, and to come up with alternative schemes," Gearhart said. "We think it's a very good project."

COMPLEMENTED BY THE COUNTY Barbara Favola, Chair of the Arlington County Board, voted to approve Clark Realty Capital's plan for The Clarendon.

"This is a very interesting project, and I think it's an example of how we're going to have to balance many planning principals and some community values," Favola said. "There's a lot to like about this project: the residential nature, the fact that the tower is away from Wilson Boulevard, [and the] creative use in...extending the density over the available land."

At the end of the discussions, Favola added, "I do want to compliment the developers...for working as hard as [they] did with the community." Board Member Paul Ferguson also voted for the development.

"I want to commend the applicant [Clark Realty Capital] and the architect...you did great work in getting input from the community [and] you were able to incorporate what the community asked," Ferguson said. "What [Clark] did here was something that was creative, that was different, and that's what Clarendon is all about. I think this is going to be an outstanding place for people to live... [and] I would consider living there myself."

SOPHISTICATED DESIGN WITH URBAN FLARE The project's unusual design will introduce a new level of architectural quality to the area's urban multifamily market. Torti Gallas & Partners-CHK, the project's designer, created a large multifamily development with a small neighborhood feel through careful massing and building layout.

SPANNING 12TH STREET The 293-unit community will straddle 12th Street with a three-story archway over the road. On one side of 12th Street will be a 151-unit, 12-story tower. From the fourth floor and above, this structure continues over the roadway, with nine floors elevated across 12th Street. On the other side of the street, this tower will join a four-story, 142-unit apartment building designed to resemble a block of upscale townhomes. Two levels of underground parking will service both buildings.

VARIETY & CHOICE Reflecting recent changes in the Rosslyn-Ballston Corridor, The Clarendon development was designed to attract the discerning renter-by-choice.

"These more affluent residents require inclusive amenities and prefer a wider variety of unit types," Guidi said. "As such, we have created eight distinct floor plans. Among the unique unit designs that residents will choose from are two different loft units, apartments with private, street-level entrances, or The Clarendon's signature penthouse suites."

AMENITIES FOR BUSINESS & PLEASURE The new residential community will also offer many upscale amenities for both work and play, including a pool, fitness center, concierge services, party room, and business center. In addition, each apartment unit will be pre-wired for high-speed Internet access. Clark Realty Management**, CRC's property management company, will also provide state-of-the-art resident services and technology options when managing the building.

BREAKING GROUND THIS FALL; LEASING SPRING 2003 The 317,000-square-foot project is currently in the design stage, with groundbreaking by Clark Realty Builders*** scheduled in the Fall. The first units will be available for lease in the Spring of 2003.

"This project has an awful lot going for it in an area...in which urban design issues are really sensitive," said Christopher Zimmerman, Arlington County Board Member. "From the design standpoint -- for how this is going to relate to the community, for how people are going to feel who live in it and those who live across the street from it -- this is a winner. It [also] does what it needs to do in terms of its impact on the character of Clarendon. We want to encourage developers to do what this one did."

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About Clark Realty Capital

Clark Realty Capital (CRC) offers a full spectrum of services to the real estate industry including investment, development, construction, property management, capital markets, and advisory.

About Clark Realty Management

Clark Realty Management (CRM) is a property management company dedicated to serving owners and residents with state-of-the-art management services using the latest technologies available. CRM is a full-service firm providing value-added services from the conceptual design phase through marketing, lease-up, maintenance, and asset management. Clark Realty began management of apartment and commercial properties in 2001.

About Clark Realty Builders

Clark Realty Builders (CRB) is a national, multifamily general contractor which was recently ranked as the sixth largest such firm in the U.S. by Builder magazine. CRC, CRM, and CRB are all subsidiaries of Clark Enterprises, Inc., which also owns The Clark Construction Group, the nation's largest private general contractor with approximately $2 billion in annual revenues.