Located where Gallows Rd. and Prosperity Ave. meet off I-495,Wilton House is just one facet of a mixed-use endeavor that willalso ultimately feature a 205-room Marriott Courtyard hotel. "Thisparticular Northern Virginia submarket is underserved by high-riseresidential and certainly by high-rise residential located at ornear mass transit," LCOR senior vice president Timothy D. Smithshares with GlobeSt.com. "Wilton House is directly across thestreet from the Dunn Loring Metrorail station, offering a 10-minuteride to downtown Washington. The Tysons employment and retailcenter also is just a few minutes away by car."

LCOR has assembled a talented group of local and nationalcompanies to assist with the development of Wilton House.Cleveland-headquartered Dorsky Hodgson + Partners is on board asthe project architect, and Washington, DC's Donohoe Cos. is servingas the general contractor. The property will be adorned with suchfeatures as a four-level underground parking garage, fitnessfacility, community room and business center. LCOR will serve asmanager for Wilton House and will be co-owner along with an SSRRealty Advisors-advised joint venture partner.

The partners will be able to capitalize on what is a bit of anisolated trend in apartment rents in Northern Virginia. As per thelatest Marcus & Millichap Apartment Research Report, whileeffective rents in Northern Virginia are expected to decline by1.3% this year, rents in the Tysons Corner/Fairfax City submarketare expected to see an increase of 1.2%.

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