Arlington Bus Garage

Address

675 N. Ballston Street
Arlington, VA

Location

• 4.12 ± acres Metro Property (Combined Site 5.35 ± acres)
• Ballston, Virginia at intersection of Wilson Boulevard between North Randolph and North Quincy Streets
• Former location of Arlington Bus Garage

Project

The development will consist of five buildings:

• 675 N. Randolph St.: a 355,530 SF, 13-story secure office building
• 4040 Wilson Blvd.: a 312,660 SF, 15-story office building
• 650 N. Quincy St.: a 12-story, 164 unit residential building
• 750 N. Quincy St.: a 17-story, 198 unit residential building
• 550 N. Quincy St.: Stand-alone retail building with 8,000 SF; the total project will include 26,900 SF of retail

Phase 1

Located at 675 N. Randolph Street, the first phase of Founders Square features:

• New Headquarters for Defense Advanced Research Projects Agency (DARPA)
• Designed to achieve LEED Silver NC certification
• Underground parking garage (515 spaces)
• Awarded Gold LEED certification Neighborhood Design (ND) program
• Remediation of an existing brownfield site
• Provides for the redevelopment and expansion of adjacent Mosaic Park. Design plans include active open space, a water feature, rain garden and cultivated landscapes
• Frontage along Wilson Boulevard – Arlington's Main Street, which was recently recognized as one of the ten greatest streets in America in terms of excellent planning and character
• Vibrant live-work-play environment located adjacent to the Ballston Commons Mall with over 100 shops and approximately 30 restaurants
• Designed by international architecture firm, RTKL

The process of Transit Oriented Development requires the coordination of the needs of the transit agency, local municipality and interest of the development community. When the Washington Metropolitan Area Transit Agency (WMATA) decided that its 50 year old Arlington Bus Garage needed to be replaced, this site, now located at the edge of the developing Ballston community, would be available for redevelopment. The site, located only a short distance from the Metrorail station and served by Metrobus, was an attractive property for a mixed-use development.

WMATA selected a developer, The Shooshan Company, with the vision and experience to maximize the potential of the site. Working with the County of Arlington, the developer had the property re-zoned to permit a more intensive use and was able to assemble a larger property to support commercial, residential and retail use.

The Commonwealth of Virginia provided $10,000,000 in funding toward the security improvements required for the development. The County of Arlington exchanged property to consolidate the site and allow for the development of the adjacent Mosaic Park. As part of the project, Mosaic Park will be doubled in size to approximately two acres with features including active open space, a water feature, rain garden and cultivated landscapes. The enlarged and redesigned Mosaic Park will provide an attractive amenity to both the surrounding neighbors and future residents of Founders Square.

When it became apparent that a leading Virginia employer, DARPA was intending to move from its former Ballston location due to national security concerns, the Commonwealth of Virginia and the County of Arlington began an intense process to determine if a suitable location could be found which would also satisfy these safety issues. The Shooshan Company, working with its architect, RTKL, were able to meet these strict requirements and, after intense negotiations, were able to sign a long-term lease for the first phase office building. These actions saved over 1500 jobs in Arlington County and provided the anchor for this development.

WMATA was able to receive compensation for the property at an increased value, due to higher development density allowed by the property rezoning, which paid for a proportionate cost of the new West Ox bus facility and for needed operating funds.

This sale was selected by the Commercial Investment Real Estate magazine of the Commercial Real Estate Institute (CCIM) of the National Association of Realtors as one of the top ten CCIM transactions for 2009 and is featured in the March-April 2010 issue (www.ccim.com)

Timeline

April 2001	WMATA Board approved Ashton Park Associates, LLC as the Selected Developer of the Arlington Bus Garage property and authorized staff to negotiate a Term Sheet
September 2005	Board approved extension to negotiate a Term Sheet with Ashton Park Associates, LLC
January 2006	Board approved Term Sheet and to negotiate a Sale and Development Agreement with Ashton Park Associates,LLC
December 2006	Board approved Sale and Development Agreement with Ashton Park Associates, LLC
April 2001 to July 2008	Ashton Park Associates, LLC works with Arlington County to obtain additional density for development and to assemble other parcels
November 13, 2008	Closing on Lot #1 for $12.8 million
On or Before December 2010	Closings on Lots #2, 3 and 4 for additional $15.4 million

Metro Contact

Office of Station Area Planning and Asset Management
Washington Metropolitan Area Transit Authority
600 5th Street, NW
Washington, DC 20001

Developer

John Shooshan
The Shooshan Company
4075 Wilson Boulevard, Suite 440
Arlington, VA 22203
703-527-8600, ext. 223
shooshan@shooshancompany.com
www.shooshancompany.com/commercial/Founders_Square.aspx

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