JBG first submitted the proposal last September. She did nothave development costs or when the project was scheduled to breakdown. JBG did not return a call in time for publication. Alltogether, Rosslyn Commons will include 454 apartments in twotowers, 25 four-story townhouses and more than 12,000-sf ofground-floor retail.

The redevelopment of Rosslyn Commons will include a strongaffordable component that will substitute for the affordablehousing units that currently exist at the complex. There arecurrently 84 market-rate affordable units, most of them onebedroom. These will be demolished and replaced with 54 units thatwill provide the same number of bedrooms. They will remainaffordable for 30 years.

The new affordable units will include 26 two-bedroom apartmentsand six three-bedroom apartments, which will rent for $1,535 topeople who earn 60% of the regional median income. The two-bedroomunits will rent for $1,329 and the one-bedrooms, $1,107. ArlingtonCounty also amended the General Land Use Plan to designate the sitea Special Affordable Housing Protection District, ensuring that themarket-rate affordable units that will be demolished will bereplaced on-site.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.