Multi-Housing News: Bozzuto, Partners Break Ground on Arlington’s Union on Queen
November 10, 2014
The Bozzuto Group has started work on another apartment project in the Washington, D.C., area. Called Union on Queen, it is a public-private partnership between Bozzuto, the 40-year old non-profit developer Wesley Housing Development Corp., Arlington County, Capital One Bank, Hudson Housing Capital, Walker & Dunlop and The Virginia Housing Development Authority.
State and company officials were present at the groundbreaking ceremony, held on Nov. 5 at 1515 N. Queen St. Bozzuto did not announce the cost of the project. It calls for the redevelopment of Arlington’s Pierce Queen apartment community.
Union on Queen is expected to open in 2016. It will feature 193 residences, including 78 much-needed affordable apartment homes. Twelve apartments will be located in the community’s existing historic garden-style buildings, which the developers plan to renovate. The remaining 181 residences will be housed in a new 12-story high-rise. Community amenities include a clubroom, fitness room, business center, bike storage, rooftop deck and two outdoor terraces.
Union on Queen is also designed to receive four green building certifications, including LEED Silver, EarthCraftVA, Energy Star for Multifamily and Arlington County Transportation Demand Management.
“Amenity-rich, transit-oriented housing that is both affordable and well integrated into its community further catalyzes Arlington’s economic viability,” Toby Bozzuto, president of The Bozzuto Group, said in a statement for the press. “Union on Queen captures Arlington’s vision of creating an inclusive community even in the high-cost metro corridor.”
Bozzuto is co-developing the project together with Wesley Housing. Bozzuto Construction Co. is the general contractor, while Bozzuto Management Co. will manage the community. Walker & Dunlop is the permanent lender, and Hudson Housing Capital is the project’s tax credit investor. Capitol One Bank is providing construction financing. The project has also secured funds from Arlington County and the Virginia Housing Development Authority.