Vornado's planned apartment building at Metropolitan Park

ARLINGTON, VA—Earlier this month Arlington County Board approved Vornado Realty's site plan for a new apartment building within the Metropolitan Park development in Pentagon City. The apartment building will have 577 units and 9,665 square feet of ground floor retail space. The Metropolitan Park Central Park, a public courtyard open space and an enhanced streetscape treatment along S. Eads Street, will also be completed with this last project. Ground will break early next year.

With the Skyline portfolio weighing it down, Vornado is seriously considering getting out of Washington DC, as CEO Steven Roth has said a number of times, but it is proceeding with its development plans for some select projects.

There is the Bartlett, the 699-unit apartment complex that Vornado just delivered. It sits atop a new Whole Foods Market with unimpeded views of the Washington DC skyline and more than 45,000 square feet of amenity space including a 4,000-square foot fitness club.

Vornado is also moving forward with the demolition of 1726 M St., NW and 1150 17th St., NW to make way for a new 335,000-square-foot trophy office building, 1700 M St, NW. Granted, for the time being it is only building a new garage and bringing the foundation back to grade as it actively markets the building. It will go vertical when the "time is right," it said in a recent earnings call.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.

Instant Insights /

Vornado Gets Approval for New Metropolitan Park Apartment

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