JGA Acquires RCA Building for $55.5M

Jefferson Apartment Group (JAG), along with joint venture partner Mitsui Fudosan America Inc. (MFA), has closed on the purchase of 1901 N. Moore Street in Arlington, Virginia—the former RCA Building—which has been approved for redevelopment as a 27-story mixed-use luxury high-rise at the foot of the iconic Key Bridge, connecting Northern Virginia and the fashionable Georgetown neighborhood of Washington, D.C.

JAG, a leading multifamily developer and operator specializing in premier apartment communities on the East Coast, plans 422 units across two towers, including penthouse units. The residences will include studio to 3-bedroom and den units, ranging in size from 435 square feet to 2,141 square feet.

1901 N. Moore is on 1.04 acres situated at the corner of 19th and North Moore streets in Arlington’s Rosslyn neighborhood, one block from the Rosslyn Metro Station, with service on the Orange, Blue and Silver lines. The planned redevelopment includes 11,000 square feet of prime ground-floor restaurant and retail space, four levels of parking, and a best-in-class amenities package with stunning views of the nation’s capital, National Cathedral, and Potomac River.

“We couldn’t ask for a better location in Rosslyn, literally on the doorstep of Washington, D.C.,” said Greg Van Wie, JAG Senior Vice President and Development Partner. “We’ve been working on the vision for 1901 N. Moore for several years and closing on the purchase sets in motion redevelopment of this underutilized property into a one-of-a-kind mixed-use community with iconic architecture that we are immensely proud to bring to Arlington.”

A glass skybridge—complete with a glass floor allowing birds-eye views of the elevated plaza over 200 feet below—connects the two residential towers and is a showcase community amenity. The skybridge features a clubroom with full kitchen, private dining room, fireplace, gaming area—and sweeping views.

The rooftop features a resort-style pool, entertainment deck, and a 360-degree observation deck with unobstructed views. A leading-edge 2-story fitness center offers an adjoining outdoor workout terrace. Other amenities include full-time concierge service, a soaring two-story lobby with a grand staircase, co-working space, bicycle storage and tuning space with repair equipment, and a pet spa.

“Despite economic headwinds, JAG and MFA were able to execute on the closing of this exceptional property on schedule,” said Greg Lamb, Chief Operating Officer and Partner of JAG. It’s a testament to our strong partnership with MFA and our long-term strategy of developing best-in-class multifamily showcase projects in top markets which stand the test of time.”

“MFA continues to actively expand its luxury residential footprint,” said Elaine Vrooman, Senior Director, Development. “One of our key corporate objectives is to develop top-quality assets through strong relationships with local partners. MFA is pleased to be working once again with Jefferson Apartment Group on another signature development in Northern Virginia’s Rosslyn-Ballston Corridor.”

JAG and MFA previously partnered on J Sol, a 22-story, 326-unit luxury high-rise in Ballston. J Sol delivered in 2020 during the height of the pandemic and leased up in less than a year.

Among the unit offerings,1901 N. Moore features top-of-market finishes, gourmet kitchens with large islands, open floor plans with high ceilings,floor-to-ceiling windows, and private balconies boasting unimpeded views.

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