The 12-story WDG Architecture-designed property will rise up where a parking lot currently sits on Fairfax Dr. near the Arlington Funeral Home. "This project meets all our goals for the Virginia Square community, as well as for Arlington," Barbara A. Favola, chair of the Arlington County Board, explains. "The theater joins the Central Library, the Arlington Arts Center and George Mason University to enhance Virginia Square's identity as a cultural destination."

She adds that the public plaza and ground-floor retail "will bring significant benefits to the community and enliven this attractive mixed-use development. This project brings 'smart growth' to a new level." In further efforts to contribute to the community, developer TCR will set aside seven of the 135 as affordable housing units, and the company will also donate $400,000 to Arlington County's Housing Reserve Fund.