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HERNDON, VA-JPI East is planning to develop a 448-unit, mixed-use apartment community at Dulles Station, an emerging community expected to flourish once Metro builds out a stop here. The company, a division of luxury multifamily developer JPI, just acquired the necessary land from Crimson Partners for an undisclosed sum, The company, which already owns a regional portfolio consisting of more than $1.2 billion of multifamily assets, was unavailable for comment.

Dulles Station is a 63-acre mixed-use town center project consisting of 2.7 million sf of residential, hotel and office space. Future plans call for a 12-acre regional park, and a three-acre transit parking lot to accommodate the Metro extension. When fully built out, Dulles Station will contain 1,095 rental and condominium residences, 1.5 million sf of class A office space, and 56,000 sf of convenient retail and restaurants, according to the Crimson Partners’ Web site.

Besides the 448 residential units JPI East’s proposed development, Jefferson at Dulles Station, will include 28,600 sf of retail space and over 9,000 sf of amenities, such as a fitness center, pool, pub and movie theater.

“This is an exciting opportunity in a well established submarket in one of the most affluent counties in the United States,” Jim Butz, JPI East President and Managing Partner says in a statement. “We were drawn to Dulles Station by the combination of office, retail, hotel and residential uses in an urban setting. There is an unmet demand for pedestrian-friendly mixed-use residential communities in Northern Virginia, and we believe Dulles Station will fill that gap and more.”

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