January 27, 2026 – Mitsubishi Estate Co., Ltd. (“Mitsubishi Estate”) and Shimizu Corporation (“Shimizu”) announced the participation in the development of NOVEL Arlington, a premier 530-unit multi-family residential project in Arlington County, Virginia. The investment is being executed through the respective U.S. subsidiaries, Mitsubishi Estate New York (“MENY”) and Shimizu Realty Development (U.S.A.), Inc. (“SRD”).
Originally launched in 2023 by Rockefeller Group International, Inc. (a U.S. subsidiary of Mitsubishi Estate) and Crescent Communities, LLC (a U.S. subsidiary of Sumitomo Forestry Co., Ltd.), NOVEL Arlington represents a milestone for both MENY and SRD as the first joint residential development in the greater Washington D.C. metropolitan area, a region characterized by strong population growth and sustained economic expansion.
The project, which will be branded under Crescent Communities’ "NOVEL" series, represents a total investment of approximately ¥40 billion (converted at 149 JPY/USD). Construction is scheduled to break ground in July 2026, with completion targeted for 2028.
NOVEL Arlington
The project site is located in Arlington County, Virginia, approximately 6miles from Washington, D.C. The area has evolved into a prominent area attracting high-income earners, particularly those in government-related sectors. With the relocation of world-leading digital platform providers and global aerospace manufacturers to the adjacent "National Landing" district, the influx of top-tier IT talent is accelerating. Furthermore, through initiatives such as the development of the "Virginia Tech Innovation Campus," the area has established its position as a major tech hub and is expected to see even further growth in the future.
NOVEL Arlington offers unparalleled connectivity, with immediate access to major highways linking Washington D.C. and Northern Virginia, extensive bus networks, the Metro, and Ronald Reagan Washington National Airport. Residents will enjoy a balance of urban convenience and abundant greenery, with Barcroft Park, the Four Mile Run Trail, and premier shopping destinations, including one of the county’s largest malls, all within walking distance.
The development will consist of an eight-story mid-rise building and 4 four-story townhome-style buildings. To accommodate a diverse range of households, the 530 units will offer varied layouts including studios, one-to-three-bedroom apartments, and spacious townhomes. The project is designed to elevate the resident experience with approximately 20,000 square feet of premium amenities. The top floor will feature a luxury clubroom, lounge, and pool with panoramic views. Additional features include an outdoor courtyard equipped with BBQ grills and pizza ovens, a dog park with a pet spa, a state-of-the-art fitness center, modern co-working spaces, and a golf simulator. Through this project, Mitsubishi Estate and Shimizu aim to provide a sophisticated residential environment that meets the demands of Arlington’s evolving workforce while contributing to the community’s long-term economic vitality.
Strategic Investment in NOVEL Arlington:A Large-Scale Residential Development in the High-Growth Market of Arlington, Virginia
- Location
- Arlington County, Virginia, U.S.A.
- Site Area
- 22,300m2
- Facility
- Multi-family rental apartments, Townhomes
- Amenities
- Swimming pool, rooftop lounge, courtyard
- Developers
- SRD, MENY,CC Rock Arlington Venture, LLC
- Construction Start
- July 2026 (Scheduled)
- Completion
- 2028 (Scheduled)