On Oct. 10, 2023, the Arlington County Board held a working session with economic development staff to discuss potential policy changes to facilitate office-residential projects.
The effort, which is phase two of Arlington County’s Commercial Market Resiliency Initiative (CMRI Phase II), seeks to stem the tide of rising office vacancies throughout Arlington County. Driving this point home, the staff presentation at the Oct. 10 working session stated that 76 of the 328 office buildings in Arlington County (23%) are “at risk for sustained vacancy/obsolescence” in today’s market.
The goal of CMRI Phase II is to enact policies to improve and expedite Arlington County’s entitlement process for office-residential projects. Potential policy changes could include, but are not limited to, changing the major/minor site plan amendment threshold, providing flexibility to meet parking and signage requirements, and addressing how green building policies should apply to office-residential conversions.
The Arlington County Board will consider CMRI Phase II policies in 2024.
Let us know if you have any questions about CMRI Phase II or how it might apply to a property in Arlington County.