CLIENT:
Clarendon1021 Condominium

The developer/client had purchased  a new 10-story (416 unit), urban styled residential building occupying a full city block in Arlington, Virginia’s energetic Clarendon neighborhood in Spring 2004. The property was originally developed as rental; the final owners purchased the building at a point when exterior construction was nearly complete but interior build-out was yet to begin, with intentions of upgrading materials and amenities to fit the local luxury condominium market. A key challenge to overcome was pricing:  The client had purchased the building at more than $350/square foot. They needed to sell units at a consumer cost of at least $425/square foot to realize profit, but the only other condominium job

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that had achieved such pricing, to date, in the National Capital market was The Residences at the Ritz-Carlton in downtown Washington, DC. The client also wanted to position this condominium community as a hip, urban address appealing to a wealthy, young urban-focused demographic that was beginning to exercise notable buying power in the Washington, DC condo market.

The building’s amenities include a heated rooftop pool, secure underground parking, a staffed front desk and a state-of-the-art fitness facility. Clarendon1021’s central location – in the heart of sought-after, eclectic Clarendon and at a transportation plexus for the entire National Capital region – make it an ideal choice for upwardly mobile 25-40 year olds who work and play in Greater Washington’s high-energy urban corridors. Clarendon is a prime destination for dining, shopping and nightlife among the region’s most affluent, highly educated 20- and 30-somethings.