Latest News
Latest NewsPenzance Wins Approval for Big Three- Tower Multifamily Project in NoVA
The Arlington County Board unanimously approved Penzance’s plans for One Rosslyn, a three-tower, 970,000-square-foot multifamily development in Arlington, Va.’s Rosslyn neighborhood. The project, designed by Studios Architecture and Hickok Cole, and co-developed by The Baupost Group, will feature 845 apartments and condo units, copious green space and 14,000 square feet of retail.
read more
Penzance wins approval for massive, three-tower office redevelopment in Rosslyn
A joint venture of Penzance and investment manager The Baupost Group has won approval to redevelop a whole block of prime Rosslyn real estate, currently occupied by the aging Rosslyn Gateway office campus, with three new residential-over-retail buildings, totaling more than 800 units and nearly 1 million square feet.
The Arlington County board voted unanimously Tuesday in favor of the project, branded One Rosslyn. The two 12-story offices at 1901 and 1911 Fort Myer Drive, immediately across I-66 from the Key Bridge, will be demolished and replaced with the trio of […] read more
Penzance Receives Approval for Transformative Residential Redevelopment of Ballston One
Arlington, VA – July 21, 2025 – Penzance, a leading owner, operator and developer in the Mid-Atlantic region for over two decades, has received approval from Arlington County for its proposed redevelopment of Ballston One at 4601 N. Fairfax Drive. The approved plan will convert the existing office building into a vibrant new residential community, adding another milestone in the company’s ongoing transformation of the Rosslyn-Ballston Corridor. Project renderings can be found here.
The new project will deliver 328 multifamily units in a 7-story building, ranging from studios to two-bedroom plus dens, as well […] read more
Penzance Makes $55M Industrial Buy In Manassas Area
D.C. real estate company Penzance has acquired a six-building industrial portfolio in the Manassas area and retained JLL to market available space.
Penzance closed this week on the $55 million purchase of Gateway Centre and Linden Business Center, two industrial flex parks that total 212,086 square feet. The seller is a partnership between Davin Holdings and The Davis Cos.
Gateway Centre, located at 7201-7401 Gateway Court, was built in 1988 and spans 102,277 square feet, while Linden Business Center, located at 7245-7795 Coppermine Drive, was built in 2001 and totals 109,809 square […] read more
