Crescent Communities, Rockefeller Group Close on Arlington Multifamily Real Estate Development Site

Crescent Communities and Rockefeller Group Finalize Land Closing for Multifamily Real Estate Development

Crescent Communities, a nationally recognized real estate investor and developer, in partnership with Rockefeller Group, today announced the closing of 2480 S. Glebe Road in Arlington, Virginia, paving the way for the development of NOVEL Arlington. The 530-unit multifamily and for-rent townhome community is designed to foster connection, wellness, and active living in Arlington County.

The real estate development sits on 5.51 acres along South Glebe Road just south of the Army-Navy Country Club. NOVEL Arlington will include 493 multifamily residences and 37 townhomes, offering a mix of studios, one-, two-, and three-bedroom homes, including both market-rate and affordable units. The community is expected to deliver in early 2028.

Strategic Location and Market Positioning

The multifamily real estate project is strategically located less than three miles from the Pentagon and less than five miles from downtown Washington, D.C. NOVEL Arlington also offers direct proximity to Four Mile Run and the Washington & Old Dominion Trailhead, a 45-mile regional running, walking, and biking trail, with convenient access to I-395 and the broader DMV region.

"NOVEL Arlington reflects our belief that wellness, movement, and connection are deeply woven into the culture of this region," said Brandon Wright, Managing Director for Washington, D.C., at Crescent Communities. "Crescent Communities is proud to launch this partnership with Rockefeller Group with a project that reflects both our firms' focus on thoughtful design, connected living, and elevated resident experiences—which will set a new benchmark for residential living in Arlington."

First Partnership Between Major Real Estate Development Firms

The project represents the first collaboration between Crescent Communities and Rockefeller Group, underscoring a shared commitment to delivering high-quality, amenity-rich residential communities in well-connected metropolitan markets.

"NOVEL Arlington aligns with our strategy to invest in the strongest growth markets nationally," said Josh Etter, Managing Director for Rockefeller Group's Mid-Atlantic region. "We're proud to partner with Crescent Communities on this thoughtfully planned development and look forward to bringing it to life in Arlington."

Amenity-Forward Real Estate Development Strategy

Designed around the concept of the "power of play," NOVEL Arlington will offer more than 20,000 square feet of indoor and outdoor lifestyle and wellness-focused amenities, curated to support work, leisure, and social connection.

Planned amenities include a golf lounge with a full-swing simulator, chic clubroom with craft hospitality and indoor-outdoor connectivity, an End Zone-style private dining and watch-party room, expansive courtyard with firepots and game zones, and a rooftop resort-style pool with upgraded cabanas.

Sources:
Crescent Communities Press Release