2 Vacant Buildings In National Landing To Be Converted Into Apartments, Hotel

Press Release: JBG SMITH

BETHESDA, Md. (July 21, 2025) – JBG SMITH (NYSE: JBGS), a leading owner, operator, and developer of high-quality, mixed-use properties in the Washington, DC market, has received approval from Arlington County to transform more than 550,000 square feet of vacant office space across two out-of-service National Landing office buildings into a 195-unit apartment building and a 344-room, dual-branded hotel.

“2100 and 2200 Crystal Drive are a testament to the success of Arlington County’s Adaptive Reuse Policy, which will breathe new life into these buildings and bring new hotel rooms, residents, and amenities to National Landing,” said Matt Ginivan, Co-Head of Development at JBG SMITH. “We have thoughtfully designed 2200 Crystal Drive to provide larger, multi-bedroom apartments that are in high demand but currently unavailable in the market.”

JBG SMITH plans to convert 2200 Crystal Drive into a multifamily building featuring 195 residences. JBG SMITH is nearing completion of the design process and will be ready to commence construction by the end of 2025. With over 1,300 units of prior residential conversions completed, the firm has established itself as one of the region’s most experienced developers of adaptive reuse projects.

JBG SMITH has seen robust demand for the nearly 1,600 new apartments it developed and began leasing in National Landing in 2024, as evidenced by The Grace and Reva which are already over 80% leased. JBG SMITH has experienced similar interest at The Zoe and Valen, with more than 170 apartments rented since the start of leasing earlier this year.

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JBG SMITH is under contract to sell the adjacent 2100 Crystal Drive to a third-party developer who will transform the building into a new 344-room, dual-branded hotel featuring both lifestyle and extended-stay brands.

About JBG SMITH

JBG SMITH owns, operates and develops mixed-use properties concentrated in amenity-rich, Metro-served submarkets in and around Washington, DC, most notably National Landing, that we believe have long-term growth potential and appeal to residential, office and retail tenants. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, highly amenitized, walkable neighborhoods throughout the Washington, DC metropolitan area. Approximately 75.0% of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, which is anchored by four key demand drivers: Amazon's headquarters; Virginia Tech's $1 billion Innovation Campus; proximity to the Pentagon; and our placemaking initiatives and public infrastructure improvements. JBG SMITH's dynamic portfolio currently comprises 11.9 million square feet at share of multifamily, office and retail assets, 98% of which are Metro-served. It also maintains a development pipeline encompassing 8.9 million square feet of mixed-use, primarily multifamily, development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com.