Penzance, a leading developer in the Mid-Atlantic region for over 20 years, has announced the launch of One Rosslyn, a groundbreaking development set to reshape Arlington’s skyline. Spanning over 900,000 square feet, the project will offer luxurious residential towers, exceptional design, world-class amenities, and neighborhood-serving retail. Groundbreaking could begin as early as late 2026.
Penzance has submitted its initial site plan application for review by Arlington County, marking the official start of the approval process.
Partnering with The Baupost Group, Penzance aims to continue its legacy of successful projects in the area, including The Highlands, a dynamic community in West Rosslyn. “One Rosslyn is one of the most exciting development opportunities in the region,” said John Kusturiss, Partner at Penzance. “Our commitment to leaving everything better than we found it will be reflected in this project, enhancing Rosslyn’s urban landscape, adding housing, and strengthening neighborhood amenities.”
The design of One Rosslyn, created by renowned firms STUDIOS Architecture and Hickok Cole, will feature vibrant colors and unique architectural elements, making it a prominent addition to the skyline. The development will include a 30,000-square-foot private landscaped terrace for residents, offering stunning views of Gateway Park and the surrounding area.
The project will also provide easy access to major landmarks, including Georgetown, the Kennedy Center, and the National Mall, with convenient transport links to Metro stations, I-66, and Reagan National Airport. Located near key business centers and Amazon’s HQ2, One Rosslyn combines luxury living with unparalleled connectivity.
This development will revitalize the Rosslyn urban core by creating pedestrian-friendly spaces, enriching the streetscape, and offering curated retail options, aligning with Arlington County’s goals for a more connected and vibrant neighborhood.
About Penzance
Penzance is a fully integrated real estate owner, operator, developer, and fund manager with a best-in-class institutional investor base. It has a track record of successful investing across the Mid-Atlantic in multifamily, industrial, data center, and other commercial assets. Since 1996, Penzance has managed $3.9 billion of gross asset value and, today, manages $1 billion of discretionary capital through its flagship fund series. It is a woman-owned firm with an experienced and diverse team that takes an entrepreneurial and flexible approach, exercising relentless risk management through its core competencies, including acquisitions, development, asset management, leasing, property and construction management, capital markets and finance, and fund management.
