In a joint venture with Bethesda-based Meridian Group, Starr Capital originated and managed the National Gateway investment. In 2004, the venture acquired 15 acres in the Crystal City submarket of Arlington, Virginia that was entitled for 2,850,000 square feet of office, residential, hotel and retail uses. Conceptual plans had been approved for a dynamic urban mixed use community with over 200,000 square feet of street retail.
The project received full site plan approval in 2006, allowing for land to be sold for vertical development.
- The hotel site for 625 rooms was sold to a joint venture of the JBG Companies and Marriot Corporation. The Renaissance Hotel /Residence Inn complex delivered in 2011.
- A 691-unit apartment site was sold to Archstone Smith.
- The first phase of office development delivered in 4Q/2009 in a joint venture with Goldman Sachs’ Whitehall Fund. This 445,000 square foot LEED Gold certified building offers 70,000 square feet of retail including a 45,000 square foot health club. Leasing is underway.
