Transit-Oriented, Mixed-Use Community Back to Grade in Virginia Square
ARLINGTON, Va.—Today, CBG Building Company completed the underground parking structure on Latitude Apartments to achieve back-to-grade status. A 265-unit mixed-use community located across from the Virginia Square Metro, Latitude is CBG's second project for The Penrose Group. The community will support a transit-oriented lifestyle with market-rate and affordable units and new neighborhood amenities to fuel growth along the Rosslyn-Ballston corridor.
"This development offers a rare opportunity for the County to gain new, on-site affordable units in the heart of the Rosslyn-Ballston Metro corridor. And there are other important community benefits, including educational facilities, and a public plaza and ground floor retail that will enliven Virginia Square," explained J. Walter Tejada, chairman of the Arlington County Board.
The 12-story community will provide 2,675 square feet of cultural and educational space alongside 3,011 square feet of leasable ground floor retail. CBG will also construct a new 12,000-square-foot public plaza and walkway to connect residents and community members to nearby Quincy Park and the Virginia Square Metro. A motion-activated video screen inside the walkway will display residential and community events.
Designed to earn LEED Gold certification, Latitude features a variety of sustainable design aspects, including EnergyStar appliances, energy-efficient lighting, closed-cell spray foam exterior wall insulation, extensive green roofs, a solar reflective ballast roof, and variable refrigerant flow (VRF) HVAC technology within apartment units.
The pedestrian-friendly property is within walking distance of the Virginia Square Metro, several bus stops, Giant grocery, George Mason Law School, Arlington's Central Library, and multiple dining and entertainment options in Ballston and Clarendon.
"We are excited to take on another wonderful project with Penrose," said Keith Anderson, president of CBG. "This product is going to be a great addition to the Rosslyn-Ballston corridor, and we are happy to be a part of the team."
Scheduled for completion in November 2016, Latitude will offer four stories of below-grade-parking for residential and commercial use. Property amenities will include a rooftop plaza - complete with fireplace, grills, movie wall, and bocce court - fitness center, dog wash room, and 12th floor party room.
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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.