Archstone, a leading apartment developer, has started construction on a 227-unit apartment project in North Arlington. Parkland Gardens is located at the intersection of North Glebe Road and Lee Highway, with proximity to the Ballston Metrorail station. The site sits between the region’s two largest professional job centers: downtown Washington, D.C., and Tysons Corner in Fairfax County. According to the Washington Business Journal, Union Bank and Sovereign Bank are providing the construction financing.
Archstone, based out of Englewood, Colo., owns or has an ownership position in 434 apartment communities in the U. S. and Europe, representing 73,135 units. It has portfolios in the Washington, D.C. area, Los Angeles, San Diego, San Francisco, New York, Seattle and Boston.
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