Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, VA-The Hudson, developer Clark Realty Capital’s 293-unit apartment community going up just across from the Clarendon Metro station, will sit on solid ground with the recent attainment of a $51.25-million loan package from Corus Bank, a subsidiary of Chicago-headquartered Corus Bankshares Inc. Clark–the building owner, which will oversee The Hudson through the company’s property management arm, Clark Realty Management–expects the first units of the residential complex to ready for occupancy in the summer of 2003.

Carrying the street address of 1205 North Hudson Ave., the sprawling 249,000-sf development will consist of a 151-unit, 12-story tower that will be linked by a high archway to a 42-unit, four-story, townhouse-style structure. The property will also include two floors of underground parking designed to accommodate up to about 320 vehicles, a fitness center, a recreational facility, and a business center. The Hudson sits on what was formerly a mass of three separate parcels in the Clarendon submarket’s predominantly residential community of Lyons Village. Clark campaigned to have the space rezoned from single-family to multi-family in order to accommodate the development.

“The Hudson is a well located residential project being one block from the Metro stop in what is and will continue to be a solid residential market in Arlington County,” Corus vice president Paul Carlson tells GlobeSt.com. “Corus was able to deliver its commitment quickly because among other reasons we have developed a great relationship with the developer.” The process of facilitating the financing agreement went from term sheet to a solid commitment in a short five-day period. Corus’s loan gives Clark the freedom to designate the residences as rental units or condominium homes to be sold.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.