Located off I-395 on 26th Court, the new luxury community isdesigned to be a pedestrian-friendly, "neo-traditional"development. The complex consists of garden-style structures, aswell as stacked-garage townhomes and mid-rise buildings. However,it is distinguished by more than its uncharacteristic design andlayout. "As a development of rental properties, I don't think thereare any other renal townhouses in Arlington," notes Birenbaum."That is one of the unique aspects of the community." And 24 of themore than 300 units are reserved as affordable housing. Already,Arlington Square II is 63% leased. "We would expect that we will befully leased up by the end of the first quarter in 2003," headds.

Arlington Square I--which reserves 40 of its 510 units for thosewho qualify for affordable housing--was delivered in the fourthquarter of 2001 for just under $70 million. All together theArlington Square project occupies eight city blocks just two milesfrom the Pentagon in one direction, and two miles from the 14thStreet Bridge, the "gateway" to the District, in anotherdirection.