JBG SMITH announced the start of construction on its office-to-residential conversion at 2200 Crystal Drive in National Landing in Arlington, Virginia.
JBG SMITH is repositioning the existing office property into a 195-unit multifamily community. Declaration Partners has joined the project as a joint venture equity partner, while BNY is supplying the construction financing. Davis Construction is serving as the general contractor.
“2200 Crystal Drive is another demonstration of our ability to attract institutional capital, execute complex repositioning projects, and transform obsolete office buildings into vibrant multifamily communities,” said Matt Ginivan, Executive Vice President, Co-Head of Development, JBG SMITH. “We have intentionally designed this project with a diverse mix of apartment homes that will complement the thriving ecosystem we have cultivated in National Landing.”
JBG SMITH recently sold the adjacent 2100 Crystal Drive to a third-party developer who is transforming that building into a 344-room, dual-branded hotel.
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