Penzance Secures Approval for Major Residential Redevelopment of Ballston One
Penzance, a seasoned real estate investor, operator, and developer with more than 20 years of experience across the Mid-Atlantic region, has received the official green light from Arlington County to move forward with the residential redevelopment of the Ballston One site, located at 4601 N. Fairfax Drive in Arlington, Virginia. The redevelopment represents a pivotal transformation of a long-standing office asset into a dynamic residential community, continuing Penzance’s influential role in shaping the Rosslyn-Ballston Corridor into a more sustainable and livable urban environment.
The Ballston One redevelopment marks a significant milestone in Arlington’s ongoing efforts to revitalize and reimagine aging commercial infrastructure, transforming underutilized office properties into mixed-use, human-centric spaces that meet the evolving needs of residents and the local economy. With this latest approval, Penzance is set to deliver a thoughtfully designed residential community that not only enhances urban density in a strategic location but also prioritizes environmental responsibility, architectural excellence, and improved livability.
A Residential Community Anchored in Biophilic and Sustainable Design
The approved redevelopment plan will bring 328 new multifamily residential units to the neighborhood in a seven-story structure. The building’s unit mix will accommodate a wide variety of lifestyles and demographics, ranging from efficient studios and one-bedroom apartments to more spacious two-bedroom-plus-den layouts. In addition, the project will feature 13 distinctive two-story loft-style homes, providing further diversity in housing typology.
The overall design philosophy of Ballston One reflects principles of biophilic architecture and environmental stewardship. Biophilic design, which seeks to connect building occupants more closely with nature, is expressed through the project’s integration of natural materials, lush landscaping, and access to green open space. Penzance is also repurposing the site’s existing underground parking garage—an adaptive reuse strategy that will significantly reduce the carbon footprint associated with new construction and material waste.
With an ambitious target of achieving LEED Gold certification, the project incorporates advanced sustainability measures from the outset. These include the use of bird-friendly glazing to minimize avian collisions, dark-sky compliant lighting that reduces nighttime light pollution, and an extensive green roof system designed to manage stormwater runoff while improving thermal insulation. All of these initiatives aim to exceed Arlington County’s environmental and stormwater management guidelines, setting a new bar for responsible development in the region.
Prioritizing Community Well-Being and Lifestyle
Penzance’s plan for Ballston One goes beyond delivering residential units—it envisions a holistic, amenity-rich living environment that caters to modern urban lifestyles. The building will offer residents an impressive suite of indoor and outdoor amenities that far exceed standard offerings in the multifamily sector.
Outdoor spaces are highlighted by a landscaped courtyard complete with a swimming pool, an outdoor kitchen, and numerous lounge areas designed for relaxation and social interaction. A rooftop terrace, outfitted with grilling stations and communal seating, provides additional recreational space and sweeping views of the surrounding cityscape.
Indoor amenities reflect a blend of health, productivity, and leisure-oriented design. Residents will have access to a state-of-the-art fitness center, a tranquil yoga studio, a cutting-edge golf simulator, and a dedicated coworking lounge ideal for remote work or creative collaboration. Other amenities include a makerspace for DIY enthusiasts, a stylish club room for social gatherings, a children’s playroom, and 24/7 concierge services. Altogether, the building will deliver approximately 80 square feet of amenity space per unit—more than double the industry average, demonstrating Penzance’s commitment to enhancing the resident experience.
Sustainable transportation is also a priority for the development. The building will feature over 130 bicycle parking spaces and 65 EV-ready vehicle parking stalls, supporting the region’s growing shift toward low-carbon mobility options.
Strategic Location and Public Infrastructure Improvements
Positioned at the confluence of Route 66 and the revitalized Ballston Wetland Park, Ballston One will serve as a key gateway into the heart of Ballston—one of Northern Virginia’s most dynamic and rapidly evolving urban nodes. The site enjoys exceptional access to retail, recreation, and transportation, including the future second entrance to the Ballston Metro Station, located just 800 feet from the property.
In alignment with Arlington County’s broader goals for increased multimodal connectivity, the redevelopment will incorporate major public infrastructure enhancements. A newly constructed shared-use path along North Fairfax Drive will accommodate both pedestrians and cyclists, improving neighborhood walkability and safety. In addition, Penzance will upgrade surrounding intersections to meet ADA compliance standards, expand tree canopy coverage for improved shade and air quality, and integrate the project seamlessly into the existing Custis and Bluemont trail networks. These upgrades will foster a more accessible and connected urban corridor, bridging key community assets across the Rosslyn-Ballston corridor.
Community-Driven Planning and Equity-Oriented Investment
The successful approval of the project is rooted in a robust community engagement process. Penzance actively collaborated with local stakeholders, residents, and planning bodies to shape a redevelopment vision that reflects community aspirations and shared values. The final design and programming of the site have been influenced by local feedback emphasizing environmental responsibility, affordable housing, and enhanced livability.
As part of its negotiated community benefits package, Penzance will contribute approximately $3.2 million toward Arlington County’s affordable housing initiatives. This investment underscores the company’s alignment with the county’s strategic focus on inclusive growth and housing equity—particularly as demand for affordable units continues to rise in key transit-accessible neighborhoods.
A Visionary Project With Long-Term Impact
“Ballston One is a transformational project that is a continuation of Penzance’s strong history of community-forward work in Arlington County,” said John Kusturiss, Partner at Penzance. “Our team is excited to reimagine this exceptionally-located property in Ballston to deliver a best-in-class residential offering that improves connectivity, walkability and quality of life for future residents and the neighborhood as a whole.”
By bringing together thoughtful design, sustainable building practices, equitable development principles, and strategic urban planning, the redevelopment of Ballston One serves as a model for future adaptive reuse projects in the Washington, D.C. metropolitan area. It reflects a broader trend of converting outdated office assets into high-performing residential communities, especially in light of shifting work habits and regional housing shortages.
As Penzance prepares to break ground, the Ballston One project is poised not only to revitalize a key site within Arlington, but also to contribute meaningfully to the creation of more inclusive, resilient, and people-centered urban environments for generations to come.
