ARLINGTON, VA—LCOR's plan to convert the former 'Paperclip Building' at 400 Army Navy Drive here from office to multifamily use is now before the Arlington Planning Commission.

The Berwyn, PA-based firm's plan to redevelop the building into a 450-unit multifamily property has cleared the Arlington Site Plan Review Committee and is now looking to secure approval from the planning commission. The project now named “The Altaire” will feature almost unobstructed views of the District, according to the Washington Business Journal.

"The concept of Altaire is celestial," says Harmar Thompson, LCOR's senior vice president at the firm's Bethesda office. "Because the project has really good views, we wanted to note something open. We really have nothing blocking the project from a building standpoint. Our views of D.C. and the surrounding area are pretty spectacular."

LCOR is seeking to develop a 20-story building with two separate towers—one with 150 condominiums and the other with 300 apartments. LCOR acquired 400 Army Navy Drive from Lerner Enterprises in late 2012 for $39 million. See story in the Washington Business Journal.