Penzance has received approval from Arlington County for the proposed redevelopment of Ballston One at 4601 N. Fairfax Drive. The approved plan will convert the existing office building into a new residential community.
The new project will deliver 328 multifamily units in a 7-story building, ranging from studios to two-bedroom plus dens, as well as 13 two-story loft homes. Penzance’s plans feature the adaptive reuse of the existing underground parking garage.
“Ballston One is a transformational project that is a continuation of Penzance’s strong history of community-forward work in Arlington County,” said John Kusturiss, Partner at Penzance. Located at the edge of Route 66 and adjacent to the revitalized Ballston Wetland Park, Ballston One benefits from proximity to major retail corridors and the future second entrance to the Ballston Metro Station, just 800 feet away. As part of an extensive community benefits package, Penzance will contribute approximately $3.2 million toward affordable housing.
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