US: Common has been appointed as the manager of a new coliving development in National Landing by JBG SMITH.
The new Washington DC area property, which is now named Common at National Landing, includes 216 fully furnished units. Units include both apartments and studios, and rates start at just below $1000 per month.
The building is located in Arlington, which is across the Potomac River from Washington DC, and is part of the new National Landing development.
National Landing is a mixed-use urban community with a downtown area. National Landing is also the location of Amazon’s HQ2 and Virginia Tech’s innovation campus, leading the area to draw demand from young professionals. The area has been under renovation by local developer JBG SMITH to include new retail, office, and residential spaces.
JBG SMITH is a developer of mixed-use properties exclusively in Washington DC. The company strives to make more walkable neighbourhoods with parks, live events, and more. The company has had great success in other DC neighbourhoods such as Ballpark District, Navy Yard, and Shaw.
Tiffany Butcher, executive vice president at JBG SMITH, said: “Common at National Landing will offer JBG SMITH customers another unique and convenient option when it comes to renting an apartment home. As an owner and manager of thousands of rental apartments throughout the region, we know first-hand the importance of providing housing options that are tailored to the needs of our customers. Common offers a best-in-class coliving experience that will complement and enhance housing options in National Landing.”
Common, which aims to use technology to enhance guest experiences in city living, entered the Washington DC market in 2017 with coliving properties in Chinatown and Shaw. The company now owns eight buildings in the area, including its i5 Union Market location that opened in April.
Brad Hargreaves, founder and CEO of Common, said: “Our mission is deeply rooted in improving the urban rental experience through innovative technology and reliable operations. JBG SMITH is a master of placemaking in the DC area and they have expertly transformed National Landing into a place for renters of all ages to live, work and thrive. We’re so thrilled to have a presence here and bring Common’s brand to Arlington.”
This announcement comes during a year of growth for Common, which currently has 26,000 signed units under development in 22 cities. The company also recently acquired management agreements with Starcity, announced major expansions across the United States, added a new member to its board of directors, and raised $50 million in a Series D venture capital funding round.
