JBG SMITH Receives Arlington County Approval for Two Residential Buildings in National Landing

JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, announced today the receipt of final entitlement approvals for 2000 and 2001 South Bell Street in National Landing. JBG SMITH began demolition and other enabling work on the vacant building currently on the site earlier this year and will be fully designed and ready to begin construction as soon as the beginning of 2022, subject to market conditions.

JBG SMITH’s 5.0 million square foot Near-Term Development Pipeline includes the most accretive and strategic development opportunities in its growth pipeline. As a result of the 2000 and 2001 South Bell Street approvals, JBG SMITH has secured entitlements for approximately 50% of its Near-Term Development Pipeline.

The approved plan calls for 758 apartments across two buildings with more than 22,000 square feet of ground floor retail, totaling approximately 723,000 square feet of new development. The plans include a 25-story building with 338 units and a 19-story building with 420 units.

2000 South Bell Street is planned to be a modern, glass tower with a robust rooftop amenity space, including a pool with panoramic views of National Landing and Washington monuments. 2001 South Bell Street will also include stylish rooftop amenity spaces and pool. Plans for both buildings include fitness centers, 24-hour concierges, large co-working spaces, community rooms, and dog-grooming stations. JBG SMITH is targeting a LEED Gold Certification for both buildings.

“We are thrilled to have received unanimous approval for 2000 and 2001 South Bell Street from the Arlington County Board; The Board’s support further validates our shared vision for a transformed National Landing,” said Bryan Moll, Executive Vice President of JBG SMITH. “The development will add to the supply of residential units in the area as Virginia Tech expands its Innovation Campus, and Amazon continues to expand HQ2. We expect these additional apartments and new ground floor retail options to further establish National Landing as a 24/7 destination.”

As part of a community benefits package, JBG SMITH has committed to providing affordable housing units at less than 60% of area median income. JBG SMITH will also make a $3.36 million base contribution to the Arlington County Affordable Housing Investment Fund.

The proposed buildings are located within the heart of National Landing, just one block from vibrant, new dining and retail amenities along Crystal Drive, the current Metro entrance, a planned new regional rail (VRE) station, and an upcoming pedestrian bridge to Reagan National Airport. 2000 and 2001 South Bell Street are expected to benefit from the planned lowering of Route 1 between 15th and 23rd Streets. This portion of the roadway, which is located immediately adjacent to the developments, is expected to feature a pedestrian-friendly design with large sidewalks intended to improve and promote walkability within the submarket.