D.C. developer Renaissance Centro’s 20-story Monarch condominium tower in the newly-developed Arbor Row in Tysons, Virginia, has resumed construction after a hiatus during 2020, and it is already 30% presold.
Purchase contracts for three of the 94 units have topped $3.5 million, setting a record for the Tysons residential market.
The $140 million building, at 7887 Jones Branch Drive, near the Tysons Ritz-Carlton, is expected to be completed in mid-2023.
Condos at the Monarch range from 880 to almost 4,100 square feet, and are priced from $600,000 to $4.1 million. The building will have two to seven residences per floor, some with direct elevator access, and most with floor-to-ceiling windows and balconies or terraces.
The building will feature a pool and terrace overlooking Arbor Row Stream Valley Park.
For those kinds of prices, building amenities will match, including a residents’ lounge, catering kitchen, fitness center and a private dining room on the 20th floor.
Other options for individual units include automated shades and heated floors. Sales are managed by The Mayhood Co.
When completed, The Monarch also will have 6,000 square feet of ground-level retail space.
The planned 19-acre Arbor Row development will eventually have more than 1,400 residential units and 35,000 square feet of restaurants and retail.