ARLINGTON, Va., July 21, 2021 /PRNewswire/ -- Common, the fastest growing residential brand designing and managing coliving apartments globally, today announced it will be expanding into the dynamic, mixed-use urban center of National Landing. JBG SMITH has chosen Common to manage the coliving apartments at 2221 S. Clark St. building, marking Common's entrance into National Landing. Common's management of the coliving component of the building will further enrich the surrounding DC and Arlington areas through community, convenience, and tech-enabled property management. Coliving apartments are now available with prices starting at below $1,000 a month.
JBG SMITH, an owner and developer of high-quality, mixed-use properties in the Washington, DC market, is leading the transformation of National Landing with new retail, residential, and office projects. The coliving component of 2221 S. Clark St., now Common at National Landing, is a 216-unit flagship building featuring coliving apartments and studios available at attainable prices for local renters. Located just across the Potomac River from the nation's capital, National Landing is the region's premier mixed-use urban community and largest walkable downtown. As the location of Amazon's HQ2 and Virginia Tech's $1 billion innovation campus, National Landing sees a continued demand for attainable and desirable housing for young professionals.
In 2017, Common entered Washington DC with its first coliving properties in Shaw and Chinatown. Today, the residential brand operates eight buildings across the city. Common is committed to being a people-first property manager by putting technology at the forefront of its operation to make city living easier for renters. This past April, Common successfully brought its tech enabled brand of property management to its takeover of i5 Union Market and, as of today, Common will bring its coliving expertise to National Landing.
"Our mission is deeply rooted in improving the urban rental experience through innovative technology and reliable operations," said Brad Hargreaves, Founder and CEO of Common. "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."
As a company founded and exclusively operating in the DC region, JBG SMITH consistently produces the type of forward-thinking projects that have helped transform and enrich neighborhoods throughout the Capital, including the Ballpark District, Navy Yard, and Shaw. In National Landing, JBG SMITH is creating a more dynamic, walkable, and human-scale neighborhood animated by parks, public plazas, live events, markets, bike paths, and a diverse array of shops, restaurants, entertainment venues, and other lifestyle amenities.
"Common at National Landing will offer JBG SMITH customers another unique and convenient option when it comes to renting an apartment home," said Tiffany Butcher, Executive Vice President at JBG SMITH. "As an owner and manager of thousands of rental apartments throughout the region, we know firsthand 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."
Coliving rents at Common at National Landing are starting at just below $1,000 per month for fully furnished apartments. Common has over 26,000 signed units under development in 22 cities across the globe. This past year, Common acquired management agreements from its biggest competitor Starcity, announced major expansions in Philadelphia and LA, added former Deputy Mayor of New York City Alicia Glen to its Board of Directors and raised $50 million in its Series D venture capital funding round from Kinnevik.
About JBG SMITH
JBG SMITH owns, operates, invests in and develops a dynamic portfolio of mixed-use properties in the high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Over half of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, where it serves as the exclusive developer for Amazon's new headquarters, and where Virginia Tech's planned new $1 billion Innovation Campus is located. JBG SMITH's portfolio currently comprises 17.3 million square feet of high-growth office, multifamily and retail assets at share, 98% of which are Metro-served. It also maintains a development pipeline encompassing 16.8 million square feet of mixed-use development opportunities. For more information on JBG SMITH please visit www.jbgsmith.com.
Common is a residential brand creating a better kind of multifamily property manager through innovations in technology, design, and operations. Common delivers exceptional experiences for renters across twelve cities and over 6,400 units in coliving, microunit, and traditional apartments. They are the preferred choice for both residents looking for a stress-free and all-inclusive living environment from a trusted brand, and for real estate owners seeking reliable, above-market returns. The Common platform also includes workforce housing management brand Noah and family-first operator Mily. With over 26,000 units signed and under development and over $110 million in venture capital investment, Common is expanding into 22 cities across the world. To work with us, visit our partners page or follow us on instagram at @common.living.
Media Contact: Phoebe Dinner, [email protected]
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