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Latest NewsFairfax County and Penzance Officials Break Ground on Next-Generation Digital Infrastructure Project to Power the World’s Deep Tech Future
Fairfax County, Virginia – Fairfax County officials and Penzance, a leading Mid-Atlantic real estate investment and development firm, today celebrated the groundbreaking of a next-generation digital infrastructure project that will enhance the world’s digital backbone, strengthen Northern Virginia’s global competitiveness, and deliver more than 60 acres of new public green space for community use. Designed for hyperscale demand and maximum energy efficiency, the project marks Penzance’s largest digital infrastructure investment to date and sets a new standard for sustainability and scale in hyperscale digital infrastructure development.
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Penzance secures $100M to build fully leased Chantilly data center
D.C. developer Penzance continues to diversify into the lucrative data center market, scoring $100 million in construction financing for its Chantilly Premier project.
The fully leased, 241,000-square-foot data center shell will sit on 12 acres of a 79-acre site located adjacent to the Chantilly Auto Park, about 10 minutes from Dulles International Airport. The tenant has not been named.
Penzance, best known for its mixed-use and multifamily projects, recently broke ground on Chantilly Premier after landing financing from QuadReal Property Group, a Vancouver-based real estate investor, developer and operator. The data center is expected […] read more
Penzance 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.
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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