ROSSLYN, Va.--(BUSINESS WIRE)--Penzance, a leading owner, operator and developer in the Mid-Atlantic region for over two decades, is proud to announce the launch of a transformational new project located in Arlington, One Rosslyn. Situated prominently amidst the Rosslyn skyline, this monumental development will encompass over 900,000 square feet and be defined by exceptional design, world-class amenities, and neighborhood-serving retail. One Rosslyn could break ground as early as late 2026.
Penzance submitted the project's initial 4.1 site plan application to Arlington County today, formally kicking off the County’s Site Plan Review Process.
Penzance has partnered with The Baupost Group on One Rosslyn, and with this project they aim to continue their track record of success in the neighborhood, having previously partnered on The Highlands, a dynamic community in West Rosslyn that redefined urban living in the area.
“One Rosslyn is one of the most exciting development opportunities in the entire region. Over the years, we’ve made significant contributions to Arlington with projects like The Highlands and 3001 & 3003 Washington Blvd in Clarendon and we are continuing to invest in the area through projects like One Rosslyn,” said John Kusturiss, Partner at Penzance. “Our commitment to ‘leave everything better than we found it’ drives every project we tackle; One Rosslyn will be no exception as we enhance Rosslyn’s urban vista, deliver additional housing, and strengthen the neighborhood’s walkability and amenities.”
One Rosslyn features distinguished architecture from renowned design firms STUDIOS Architecture and Hickok Cole. The proposed design aims to infuse distinct color and a sense of warmth and variation into the surrounding cityscape as the final and most prominent addition to Rosslyn’s skyline.
Located at the intersection of Fort Myer Drive and Langston Boulevard, One Rosslyn promises an exceptional living experience incorporating biophilia and other wellness-focused, community-driven offerings. The towers are centered around a 30,000-square-foot private landscaped terrace granting residents immediate entry to lush outdoor space. The elevated terrace will overlook the adjacent Gateway Park, which is being re-envisioned by Arlington County and the landscape architecture firm behind New York City’s High Line.
The site’s premier location will provide sweeping views of Washington D.C. and easy access to Georgetown, the Kennedy Center, and the National Mall. The development is ideally situated near Theodore Roosevelt Island and the Key Bridge, with seamless access to three Metro lines, I-66, and Reagan National Airport. It’s also within a 10-minute drive to George Washington University, the Pentagon, and Amazon’s HQ2. Surrounded by several Fortune 500 companies, One Rosslyn will combine convenience with unparalleled access to the region’s top destinations.
One Rosslyn will contribute to the vibrancy of Rosslyn’s urban core by enriching the streetscape with pedestrian-friendly spaces and thoughtfully-curated retail offerings. With its proximity to nearby parks, One Rosslyn will create a lively corridor that bridges green spaces, commercial hubs, and neighborhood amenities, aligning with the County’s goals for a more connected, livable Rosslyn.
About Penzance
Penzance is a fully integrated real estate owner, operator, developer, and fund manager with a best-in-class institutional investor base. It has a track record of successful investing across the Mid-Atlantic in multifamily, industrial, data center, and other commercial assets. Since 1996, Penzance has managed $3.9 billion of gross asset value and, today, manages $1 billion of discretionary capital through its flagship fund series. It is a woman-owned firm with an experienced and diverse team that takes an entrepreneurial and flexible approach, exercising relentless risk management through its core competencies, including acquisitions, development, asset management, leasing, property and construction management, capital markets and finance, and fund management.
