With Altaire, LCOR taps into demand for high-end rentals in Crystal City

LCOR Inc. has leased nearly 30 percent of the Altaire, its redevelopment of a Crystal City office building into high-end apartments, tapping into a rising demand for luxury rentals in an Arlington County submarket more closely associated with federal agencies and government contractors.

The suburban Philadelphia developer kicked off leasing over the Labor Day weekend — and the lease-up rate is about 10 percent over expectations so far. The 451-unit multifamily development at 400 Army Navy Drive has plenty under its proverbial hood, with secure Wi-Fi throughout, LEED-Gold energy efficient design and windows that tint to help keep the building’s common two-story lobby cool. But the views are the real breathtakers.

“It’s a powerful view, in a powerful city,” Harmar Thompson, executive vice president and principal, said on a recent tour. “You go up there, and you get Arlington National Cemetery all the way down to MGM National Harbor.”

• Related: LCOR plans more multifamily in Crystal…

Read the full story from the Washington Business Journal.

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