FALLS CHURCH, VA. — Rushmark has secured financing to develop a $136 million apartment community in West Falls Church. FCP provided $22 million of preferred equity, and PNC contributed a $92 million senior construction loan. Patrick McGlohn, Brian Crivella, Yalda Ghamarian, Brian Gould, Bill Gribbin and Patrick Cunningham of Berkadia DC Metro led the transaction.
Located at the corner of Falls Church Drive and West Falls Station Boulevard, the seven-story community will offer a mix of one- and two-bedroom apartments and such amenities as work-from-home spaces, a clubroom, speakeasy and game room, resort-style pool, fitness center with yoga studio and a residential courtyard. Completion is slated for 2028.
The development site is part of a coordinated redevelopment of nearly 42 acres surrounding the West Falls Church Metro station. The larger redevelopment encompasses Metro-owned parking lots, the former Virginia Tech Northern Virginia Center and the former George Mason High School site. Rushmark, EYA, HITT Contracting and Hoffman & Associates are leading separate components of the broader mixed-use buildout.
The redevelopment is converting underused transit-adjacent land to housing and commercial uses — including retail, office, apartments, senior living and for-sale residences — after station ridership fell sharply following the Silver Line’s 2014 opening.