Crescent Communities and Rockefeller Group Finalize Land Closing for NOVEL Arlington
ARLINGTON, Virginia (Jan. 22, 2026): Crescent Communities, a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use communities, in partnership with Rockefeller Group, a leading U.S. real estate developer, owner, and operator, today announced the closing of 2480 S. Glebe Road in Arlington, Va., paving the way for the development of NOVEL Arlington, a 530-unit multifamily and for-rent townhome community designed to foster connection, wellness, and active living in the heart of Arlington County.
Situated 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.
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.”
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, which is poised to outperform.”
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:
- Golf lounge with a full-swing simulator
- Chic clubroom with craft hospitality and indoor-outdoor connectivity
- End Zone–style private dining and watch-party room
- Expansive courtyard with firepits, game zones, and layered landscaping
- Rooftop resort-style pool with upgraded cabanas
- State-of-the-art fitness center, solo fitness studio, sauna, and recovery spaces
- Coworking nooks and curated social lounges
- Record listening lounge
- Pet Retreat and Pet Spa
- Resident convenience market
- Privately programmed courtyard and a public-private park with walking trails
NOVEL Arlington is being developed with a strong commitment to sustainability and is pursuing LEED Gold certification, incorporating energy-efficient systems, water-conserving fixtures, responsible material selection, and enhanced indoor environmental quality to support resident health and long-term environmental performance.
In coordination with the closing of the property, the joint venture announced it had secured equity financing from Shimizu Realty Development and Mitsubishi Estate New York, a U.S. affiliate of Tokyo-based Mitsubishi Estate Co. Ltd and construction financing from Sumitomo Mitsui Trust Bank New York Branch (SMTB). Additional partners on the development include Bohler D.C. (civil engineer), Hord Coplan Macht (architect), John Moriarty & Associates (general contractor), LandDesign (landscape architect), Streetsense (interior design), and Structura (structural engineer).
Nationwide, Crescent Communities continues to experience significant growth with $7.2 billion of residential and commercial investments and developments in various stages of construction, operations, and planning. That pipeline includes 15,300 multi- and single-family build-to-rent units; 58,000 square feet of complementary retail space; and 7.5 million square feet of office, industrial, and life-sciences facilities. With a focus on environmental sustainability and wellness, Crescent Communities is a leading recipient of LEED, NGBS (National Green Building Standard), Fitwel, and WELL certifications.
Rockefeller Group is one of the nation’s most active developers, with more than 23 million square feet of projects in various stages of planning and development spanning multifamily, office and industrial real estate in 16 states and Washington, D.C. The company traces its roots to the development of New York’s Rockefeller Center, where it continues to own and manage approximately 6 million square feet of premier office space. The company owns more than 1 million square feet of premier office space in the Washington, D.C. area, and has nearly 5 million square feet of industrial property in planning or construction in Virginia and Maryland.
Renderings of NOVEL Arlington are linked here.
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About Crescent Communities:
Crescent Communities is a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use "communities." We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 95 multifamily communities and 26 million square feet of commercial space. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, and Phoenix. Our multifamily communities are branded NOVEL, RENDER, and HARMON by Crescent Communities, our industrial developments are branded AXIAL by Crescent Communities, and our life science developments are branded THE YIELD by Crescent Communities.
About Rockefeller Group
Rockefeller Group develops, owns, and operates extraordinary properties across the United States. For nearly a century, the company has delivered exceptional value through a dedication to quality in the built environment. Rockefeller Group’s portfolio spans industrial, office, multifamily, and mixed-use developments across six regions, as well as ownership and management of approximately six million square feet of premier office space in Manhattan.
