Arlington Office Building Near Metro Slated For 392-Unit Apartment Tower

ARLINGTON, VA — A Ballston office building near the Metro station could be replaced with nearly 400 apartments under a redevelopment plan announced by Carr Properties.

The Washington, D.C.-based developer acquired the 186,000-square-foot office building at 4040 N. Fairfax Drive and plans to replace it with a 392-unit residential high-rise. Construction is expected to begin in summer 2028, pending county approval.

Carr Properties bought the building for $12.25 million, about one-third of its $35.29 million assessed value, according to deed records cited by the Washington Business Journal. The property previously sold for $56.2 million in 2014, the outlet reported.

The proposed development would include 392 apartments and amenities such as a rooftop swimming pool. The property is steps from the Ballston-MU Metro station, with access to nearby restaurants, shopping and employment centers.

"Ballston is one of the most compelling residential markets in the Washington region, with exceptional walkability and connectivity," Carr Properties CEO Oliver Carr said in a statement. "We see tremendous value in repositioning well-located properties like this into luxury multifamily communities."

The project would require Arlington County site plan approval before moving forward, according to the Washington Business Journal. Additional design and construction details have not yet been released.

The Ballston project is part of Carr Properties' growing residential portfolio in Northern Virginia and Washington, D.C.

The developer is also working on a 315-unit residential project at 3033 Wilson Blvd. in Arlington's Clarendon neighborhood, expected to be completed in 2028. Other developments include a 237-unit apartment community in Alexandria and a 299-unit residential project in Washington's Foggy Bottom neighborhood.

Carr Properties has not announced when it plans to complete the proposed Ballston apartments.